As part of its efforts towards tackling sophisticated financial crimes, Ghana’s Economic and Organized Crime Office (EOCO) has acquired one of West Africa’s few licenses for forensic cryptocurrency investigations—marking a new chapter in the fight against digital asset-based fraud.
Announcing the development at the official launch of the QNET-EOCO partnership to combat organized crime, the Executive Director of EOCO, Raymond Acher, disclosed that the agency has already investigated and confiscated proceeds from crypto-related fraud schemes, with repatriation processes currently underway.
“We’re proud to announce that EOCO now holds one of the very few crypto forensic licenses in West Africa. We’ve successfully traced, seized, and are preparing to return illicit crypto funds back to Ghana—possibly a first for Africa,” Mr. Acher declared.
“This is going to be an all-out war on financial crime. We’re fully prepared,” he added.
The license significantly boosts EOCO’s ability to unravel complex digital financial crimes, especially at a time when cryptocurrencies are increasingly being exploited for fraud, scams, and cross-border criminal activity.
In addition to its expanded crypto arsenal, EOCO has entered into a strategic partnership with QNET, a direct-selling e-commerce firm, through a newly signed Memorandum of Understanding (MoU). This move is aimed at tackling the growing scourge of scams, human trafficking, and deceptive migration schemes, many of which target vulnerable youth with false job offers abroad.
Acher emphasized that this initiative is being treated as a serious national security priority, backed by a coordinated multi-agency response that includes the Ghana Police Service, Ghana Immigration Service, the National Intelligence Bureau (NIB), and the National Security Council.
“These crimes aren’t just about money—they’re destroying lives,” Acher stressed. “Young Ghanaians are being trafficked and left stranded or dead in foreign countries due to elaborate recruitment and scam operations. Millions of dollars are moving illegally across borders, funding these criminal enterprises.”
He commended QNET for stepping forward to join the fight and for its willingness to collaborate with law enforcement to protect not just the public, but also its corporate reputation.
“The objective is clear,” Acher concluded. “We are identifying, investigating, and dismantling these criminal networks. Our mission is to prosecute the perpetrators and strip them of every cedi or dollar gained from these sophisticated crimes.”
EOCO’s acquisition of the crypto forensic license is expected to be a game-changer, enabling the agency to follow the money more precisely in the digital age—and strike harder against the financial underworld.