How to stay safe online when making money transfers to Ghana

For the past year, money transfers sent from those living and working in the diaspora have become one of the most important lifelines for families and the Ghanaian economy.

How to stay safe online when making money transfers to Ghana

Ghana has become the second-largest recipient of diaspora remittance with the WorldBank placing inflows to Ghana at $3.5 billion in 2019.

Technological innovations have contributed enormously to this trend and facilitated growth. Through digital money transfer methods, cross border financial transactions that could otherwise take days have been reduced to only a matter of seconds.

Digital financial services are here to stay and have become a way of life for Ghanaian’s sending and receiving money from across the world. It is therefore important for providers to ensure secure connections.

At WorldRemit, we take very seriously the privacy and security of our customers. Our website and apps are designed to prevent accounts from unauthorised login attempts; we have strict verification processes to ensure that we correctly identify all of our customers and have a team of dedicated analysts who monitor transactions for signs of unusual activity.

We want all users of digital financial services to stay safe online and continue to reap the benefits of technology. Here are five tips to bear in mind:

  • Beware of people impersonating brands. A common trick involves someone creating a fake social media account in an attempt to convince you that they're someone they're not to gain your trust. Hooks such as 'invest and we'll give you a 10x return' are used, but once you've parted with your money you're unlikely to speak to anyone again. Make sure you check out who you're talking to and verify it's actually the brand you think it is. Contact your intended company directly via their website to be on the safe side.
  • Download apps only from reliable sources. Make sure that you download apps from reliable sources only - e.g. verified links from the website of the organization, App store on Apple devices, Google Play store of Android devices, etc. - and always verify website links. Also before downloading an app, confirm that you are using a service that is verified and recognized by local and international financial services authorities.
  • Never share your passwords and token codes. Financial services providers will never ask you to share your passwords, token codes or any other private pieces of information. If you get a request from a supposed provider, do not share your details. Also, make sure the money transfer service is committed to protecting your data. At WorldRemit, our payment partners in countries where the money is received will verify your identity, while ensuring your data is protected at all times. We also respect privacy policies and will never share data with any third party.
  • Confirm the recipient’s identity and channel. It is often wise to confirm the identity of your recipient, anyone seeking financial assistance from you or unsolicited investment opportunities. If you suspect that your emails have been intercepted, confirm the transaction directly or through a regulatory authority before completing the process. For transactions via WorldRemit, confirm the recipient’s identity and how they will receive the money, whether it is cash pickup, mobile money, or bank transfer. Make sure you are using the beneficiary’s full legal name, as the bank in the receiving country will match their identification with the transfer information.
  • Speed is of the essence. Pick a service that ensures your money reaches its intended destination quickly and safely. 90% of transfers made with WorldRemit are authorized within minutes. Also, check if the platform has a 24-hour customer care service that is operational. At WorldRemit, our customer service teams are available 24/7.

Disclaimer: WorldRemit and its affiliates do not provide financial advice. This article has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial advice. You should consult your own financial advisors before engaging in any financial transaction.

Feature by WorldRemit

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