Fraud Alert: Fraudsters using ECOBANK’S name to swindle people on DIAMOND TV & SOUL TV

Ecobank Group

ECOBANK Ghana has dissociated itself from a fraudulent advert on Diamond TV and Soul TV claiming that the bank is giving online loans in exchange for a GHS200 down payment.

The bank, in a statement, said the fraudsters are using the name and logo of Ecobank as well as the picture of the Managing Director to deceive people that Ecobank is giving loans of between GHS1,000 and GHS50,000 after the GHS200 down payment.

ECOBANK however stated that it has nothing to do with the said advert and it is not promoting any such scheme so customers and Ghanaians should beware of the fraudsters and disregard the advert.

Below is the full statement from Ecobank.


Accra, Ghana – May 31, 2022: Our attention has been drawn to fraudulent advertising messages airing on DIAMOND TVand SOUL TV, both free-to-air television channels in Ghana. The fraudsters claim to be selling Online-loans in the name of Ecobank. In the said advertisements, one is required to make a down payment of GHS200 to qualify for a loan amount between GHS1,000 and GHS50,000. The fraudulent advertisements boldly display the Ecobank logo alongside a picture of the bank’s Managing Director.

Ecobank wishes to state emphatically that the said advertisements are NOT sponsored by the bank, and that no such product is being offered by Ecobank, as is being claimed by the fraudsters. We wish to further state that under no circumstances will Ecobank request customers to make down payments prior to loan disbursements.

We again take this opportunity to caution our numerous loyal customers and the general public to disregard the said advertisements.


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