The Securities and Exchange Commission (SEC) has cautioned the public against investing with two digital investment platforms, YEPBIT Exchange and BONCHAT, describing them as suspected fraudulent schemes operating without regulatory approval.

The regulator said preliminary intelligence gathered indicates that the two entities are soliciting investments from members of the public, including through digital and crypto-asset platforms, despite not being licensed to operate within Ghana’s capital market.

In a public notice issued on Wednesday, July 15, 2026, the SEC stated that neither YEPBIT Exchange nor BONCHAT has been authorised 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 notice said.

The Commission urged investors to verify the licensing status of any investment firm before committing their funds and to be cautious of platforms that promise unusually high or guaranteed returns.

The SEC also warned against schemes where participants earn mainly by recruiting new members, noting that such models are often 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 regulator advised.

The Commission further encouraged members of the public to report suspicious investment platforms as it intensifies efforts to protect investors and maintain confidence in Ghana’s capital market.

The warning forms part of the SEC’s broader efforts to strengthen oversight of the country’s growing digital investment space amid increasing concerns over online financial scams and unregulated crypto-related schemes.

The regulator said the notice was issued in accordance with Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended, which mandate the Commission to protect investors and ensure the integrity of Ghana’s securities market.

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