A recent court ruling has highlighted the urgent need for banks and financial institutions to enhance their cybersecurity and internal controls to combat sophisticated fraud schemes involving cloned cheques. The call for vigilance follows the sentencing of Jessica Oforiwaa, a 35-year-old caterer and hairdresser, to five years in prison for defrauding GCB Bank customers of GH₵81,060 through an elaborate cheque-cloning operation.
Delivering the verdict, the presiding judge emphasized the importance of staying ahead of criminal tactics that exploit Information and Communication Technology (ICT) vulnerabilities. The judge urged financial institutions to invest in advanced ICT systems and provide regular training for staff, particularly tellers, to detect counterfeit financial instruments effectively. He stressed that safeguarding depositors’ funds and maintaining shareholder confidence were critical to sustaining public trust in the banking sector.
Jessica Oforiwaa, convicted on seven charges including stealing and abetment of crime, was a key player in a network of fraudsters who chemically altered cheques to siphon funds from unsuspecting customers. Despite being a first-time offender and a mother of two, the court ruled that the premeditated nature of her actions warranted a custodial sentence.
Oforiwaa’s accomplices — Dawda Sawdido, Mohammed Muktar, Fuseini Saeed Ibrahim, Felix Mensah, Lawrence Quarshie, and Philip Ansah — remain at large, highlighting ongoing challenges in apprehending all involved in financial fraud rings.
According to Assistant Superintendent of Police (ASP) Seth Frimpong, the scheme involved cloning eight cheques from customer accounts at GCB Bank. Using advanced chemical methods, Oforiwaa and her associates erased legitimate account details and signatures, replacing them with falsified information. The fraudsters then presented the counterfeit cheques as genuine, successfully withdrawing funds across multiple branches.
Key incidents included:
January 10, 2022: GH₵12,000 was stolen from Rejoice Emekor Senezah’s account at the Kantamanto branch.
April 13, 2022: GH₵47,460 was withdrawn from Felcon Electrical Enterprise’s account.
Several smaller withdrawals, ranging from GH₵4,700 to GH₵5,000, were made by accomplices across other branches.
The fraudulent cheques were traced back to a cheque book issued for Oforiwaa’s business account, Jesnat Cook Company. Investigators discovered that significant sums were withdrawn by individuals working in tandem with Oforiwaa.
The scheme unraveled when suspicious activities led to the arrest of Livingston Ankomah, a co-conspirator, on August 1, 2022. He was caught attempting to withdraw GH₵3,000 at the Kwame Nkrumah Circle branch after successfully withdrawing GH₵4,700 earlier at Kaneshie. His confession implicated Philip Ansah and shed light on the broader operation. Ankomah has since been jailed.
Oforiwaa herself was arrested on December 24, 2022, by the Kwahu Nkwatia Police. During interrogation, she admitted her involvement and alleged that her boyfriend, Samuel Gyane Nyanteh, might have played a role, as he was the only other person with access to her resources.
Prosecutors described the crime as part of a growing trend that endangers the stability of financial institutions and undermines public confidence. ASP Frimpong called for stricter deterrent sentences to discourage similar schemes, emphasizing the need for banks to adopt stronger anti-fraud measures.
The judge echoed these sentiments, urging banks to scrutinize transactions more thoroughly and enhance the technological capacity of their systems. Regular staff training and stringent verification processes, particularly for high-value cheques, were recommended to prevent future fraud attempts.
This case serves as a stark reminder of the evolving tactics used by criminals to exploit technological vulnerabilities. Financial institutions must remain proactive in fortifying their defenses and collaborating with law enforcement to protect the interests of depositors and shareholders.
