He urged them to be cautious in registering with online financial institutions, which promised them juicy offers, saying, many of them were scammers leveraging on the ignorance of unsuspecting traders and businesses to fraud them.

Mr Pewodie gave the advice when addressing the 24th Annual General Meeting of the Berekum chapter of the Union at Berekum in the Bono Region. He noted that many of the fraudulent online financial institutions promised to offer loans and other credit facilities and end up duping many unsuspecting victims.

He therefore urged business, entrepreneurs and traders, especially market women to be cautious in transacting business with those firms.

Mr Pewodie also urged individuals and businesses to endeavour to check the backgrounds of those online financial institutions at the Bank of Ghana official website to ascertain their legitimacy.

He entreated them to avoid the practice of keeping money in their homes and adopt the habit of saving with genuinely established financial institutions.
He also cautioned them about the resurgence of unscrupulous activities of money doubling schemes.

Mr Charles Nii Tagoe, the Board Chairman of Berekum Areas Teachers Cooperative Union, commended customers for their loyalty and dedication in doing business with the union.