The Securities and Exchange Commission (SEC) has warned the public against two investment platforms, YEPBIT Exchange and BonChat, describing them as suspected fraudulent schemes operating illegally in Ghana.
In a public notice dated July 15, 2026, the Commission said both entities have been actively soliciting investments from Ghanaians, including through digital and crypto-asset platforms, without the mandatory licence required by law.
“YEPBIT EXCHANGE and BONCHAT are not licensed by the SEC,” the notice stated emphatically, urging the public to exercise extreme caution.
The SEC, which is mandated under the Securities Industry Act, 2016 (Act 929) to regulate and promote an efficient, fair, and transparent securities market, reiterated its commitment to protecting investors and safeguarding market integrity.
As part of its advisory, the Commission directed members of the public to:
- Verify the licensing status of any entity offering investment or trading services by contacting the SEC directly before committing funds;
- Be wary of schemes that promise unusually high or guaranteed returns;
- Avoid investment arrangements where earnings depend primarily on recruiting new participants—a hallmark of Ponzi schemes; and
- Report any suspicious platforms to the SEC for investigation.
The Commission further advised the public to reach out through official channels for verification, including email at info@sec.gov.gh or vasp@sec.gov.gh, by phone on +233-302-768970-2 or the toll-free line 0800100065, or via the SEC website at www.sec.gov.gh.
The notice was issued by order of the Executive Management of the Securities and Exchange Commission, under Sections 3 and 208(c) of Act 929, as amended.