The Securities and Exchange Commission (SEC) has warned against two digital investment platforms -YEPBIT Exchange and BONCHAT, describing them as suspected fraudulent investment schemes and cautioning the public against investing through either platform.
The regulator said preliminary intelligence indicates that both entities are soliciting investments from members of the public, including through digital and crypto-asset channels, despite not being licensed to operate within Ghana’s capital market.
In a public notice issued on Wednesday, July 15, 2026, the SEC stressed that neither YEPBIT Exchange nor BONCHAT has received regulatory approval to provide investment or trading services in Ghana.
“The SEC wishes to alert the General Public to a suspected fraudulent investment scheme operating under the name(s) YEPBIT EXCHANGE and BONCHAT, which is soliciting investments from members of the public, including through digital/crypto-asset platforms. YEPBIT EXCHANGE and BONCHAT are not licensed by the SEC.”
The latest warning signals the regulator’s continuing efforts to tighten oversight of Ghana’s rapidly evolving digital investment landscape amid growing concerns over online platforms promising quick returns without regulatory approval.
As part of its advisory, the Commission urged prospective investors to verify the licensing status of any investment firm before committing funds and to remain cautious of schemes advertising unusually high or guaranteed returns.
The regulator also cautioned investors against platforms whose earnings depend primarily on recruiting new participants, one of the common characteristics associated with fraudulent investment operations.
“Verify the licensing status of any entity offering investment or trading services before investing. Be wary of schemes promising unusually high or guaranteed returns. Avoid schemes where earnings depend primarily on recruiting others.”
The SEC further encouraged members of the public to report suspicious investment platforms to the Commission as it intensifies efforts to safeguard investors and preserve confidence in Ghana’s capital market.
The latest alert comes as regulators globally increase surveillance of digital investment products and crypto-related schemes amid rising cases of online financial fraud targeting retail investors.
The Commission said the notice was issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended, reaffirming its statutory mandate to protect investors and ensure the integrity of Ghana’s securities market.
