SEC Flags 33 TV Stations for Airing Suspected ‘Money-Doubling’ Scams

The Securities and Exchange Commission (SEC) has identified and flagged 33 television stations across Ghana for broadcasting suspicious “money-doubling,” investment, and remittance-themed schemes believed to be fraudulent.

A document sighted reveals a wide network of TV channels airing programmes tied to counterfeit financial products such as ECO Cash, Airpay, Worldremit (fake versions), US Bank Online, Chase Bank, and other unverifiable money-transfer or spiritual-money promises. Many of these schemes entice viewers with claims of instant wealth, miracle money, supernatural deposits, or guaranteed returns—tactics commonly used by fraudsters to exploit vulnerable citizens.

A Disturbing Trend Across Local TV Stations .The list spans a mix of regional and national channels, including Advice TV, Adwempra TV, Diamond TV, Best TV, Big TV, Energy TV, Elephant TV, XTV, VIP TV, Today’s GH TV, and many others. In total, 33 media platforms were cited.

According to the data, ECO Cash emerged as the most frequently promoted fraudulent scheme, appearing on several stations such as Advice TV, Asomafo TV, Benedict TV, KTV, MY TV, Starboy TV, and Unik TV. Other stations were associated with schemes like Nana Bodom, Airpay/Chase Bank, IMONEY, Instant Money, Nogokpo, Arab Money, and Unnamed Products.

Below are few notable matches extracted from the list:

Advice TV – ECO Cash
Best TV – Airpay
Run TV – Wave Money Transfer
Seekers TV – US Bank Online Loan
XTV – Arab Money / ECO Cash
Today’s GH TV – Unnamed Product
TV Magic – WorldRemit (fraudulent version)

The SEC has repeatedly warned Ghanaians to be cautious of individuals and organizations promising unrealistic returns, supernatural financial increase, or unregulated money-transfer services. Many of these schemes operate without licenses, making victims unable to retrieve their funds after falling prey.

The flagging of these 33 TV stations marks a significant step in safeguarding the financial well-being of Ghanaians and curbing the spread of deceptive “money-doubling” operations that have already claimed countless victims nationwide