Ghana’s Economic and Organised Crime Office (EOCO) has become the first state agency in the country to secure a forensic cryptocurrency investigation license, signaling a major step forward in the government’s ability to combat digital financial crimes.
The license was granted through a partnership with A&D Forensics, a Nigerian-based blockchain intelligence firm, and the International Anti-Corruption Academy (IACA), an institution that supports anti-corruption initiatives globally.
Chainalysis Partners with A&D Forensics, Expanding Access to its Cryptocurrency Investigative Tools in Africa https://t.co/7HuvJcDm7c via @Bitcoin KE
— P2Pmoneyshop (@p2pmoneyshop) June 12, 2020
A New Chapter in Crypto Crime Fighting
EOCO’s new capabilities come amid a rise in cybercrime and online fraud cases in Ghana involving cryptocurrencies. According to officials, the forensic license has already enabled EOCO to recover funds linked to criminal activity involving virtual assets – a rare success in a space often plagued by jurisdictional and technological challenges.
“This marks the beginning of new capabilities and tools in the fight against internet fraud,” said Maame Yaa Tiwaa Addo-Danquah, Executive Director of EOCO.
“We are now able to recover proceeds of crime transferred through cryptocurrency, which was previously difficult to track.”
“We have stated, this [license] is to detect, investigate, prosecute, and deny perpetrators the proceeds of their crime.” – @EOCOghana
EOCO is a specialised law enforcement agency established to investigate and prosecute economic crimes on the authority of the Attorney General. pic.twitter.com/nuVHQr3fgZ
— BitKE (@BitcoinKE) July 16, 2025
Growing Crypto Use, Growing Risk
Ghana has seen increased crypto adoption in recent years, particularly among the youth. A 2022 report by Chainalysis placed Ghana among the top 10 African countries in terms of crypto adoption, driven largely by remittances, peer-to-peer trading, and interest in digital investments.
But with this growth has come a wave of fraudulent schemes – often run by transnational syndicates targeting victims across West Africa and beyond. Many such scams use Bitcoin and stablecoins as tools for laundering illicit funds, making it harder for authorities to trace.
EOCO’s partnership with A&D Forensics is part of a broader trend across Africa to equip enforcement agencies with blockchain analytics tools and training to track illicit crypto transactions.
Nigeria’s EFCC (Economic and Financial Crimes Commission)
South Africa’s FSCA, and
Kenya’s Asset Recovery Agency
have all ramped up efforts to combat crypto-related fraud in the last two years.
[PODCAST] How A&D Forensics Partnership with Chainalysis Will Change Blockchain Analysis Across Africa with Deji: https://t.co/mGJai7rVVV@ForensicsD @chainalysis
— BitKE (@BitcoinKE) August 17, 2020
International Collaboration Is Key
A&D Forensics, which has trained over 1,000 law enforcement officers across Africa, said this partnership with EOCO will provide Ghanaian officials with:
The ability to trace transactions
Identify wallets linked to criminal activity, and
Collaborate with international crypto exchanges and blockchain networks.
The collaboration also aims to support Ghana’s compliance with Financial Action Task Force (FATF) standards on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) – specifically the ‘Travel Rule,’ which requires entities to collect and share identifying information on cryptocurrency transactions.
REGULATION | The Travel Rule Takes Effect in South Africa and Regulated Crypto Exchanges Are Complying
Set to go live on April 30 2025, the Travel Rule forces service providers to collect identity info on transactions over R5,000 (~$270)https://t.co/HyniezwDlV @FATFNews pic.twitter.com/uImVMGRGjl
— BitKE (@BitcoinKE) April 30, 2025
What’s Next?
EOCO plans to extend its training programs to other Ghanaian law enforcement and regulatory bodies, including the Ghana Police Service and Bank of Ghana’s Financial Intelligence Centre. The goal is to create a coordinated, nationwide strategy for tackling cybercrime and financial fraud involving virtual assets.
As Africa’s crypto space continues to grow, Ghana’s proactive approach may serve as a model for other countries in the region. The ability to trace and recover stolen digital assets – previously considered almost impossible – could change the narrative around crypto crime and regulation on the continent.
REGULATION | Bank of #Ghana Issues Mandatory Registration of All Virtual Asset Service Providers Operating in the Country
The banks has issued a registration deadline of August 15 2025 saying that registration is compulsory.https://t.co/gb885p1oJU @thebankofghana pic.twitter.com/NMp5poA46V
— BitKE (@BitcoinKE) July 10, 2025
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