Global cybercrime continues to surge at an alarming rate, with estimated annual losses expected to hit US$10.5 trillion by the end of 2025, according to the Global Initiative Against Transnational Organized Crime (GI-TOC).
The GI-TOC’s Global Organized Crime Index for 2023 introduced cyber-dependent crimes as a distinct criminal market indicator. These offences rely entirely on information and communications technology (ICT) and include hacking, ransomware attacks, identity theft, and online scams.
Although cybercrime scored an average of 4.55 out of 10 globally, lower than traditional forms of organized crime, experts warn it is among the fastest-growing criminal markets worldwide.
Evidence of this explosive growth is mounting. A 2024 report from a U.S. cybersecurity firm revealed more than 30,000 new vulnerabilities were disclosed globally that year, marking a 17 percent increase over 2023.
The United Kingdom recorded a threefold rise in major cyberattacks within the same period, while India saw cyber incidents surge from about 86,000 in 2019 to nearly 205,000 by 2023, making it the second most targeted country in the world.
According to the World Cybercrime Index, other global hotspots for cyber threats include Russia, North Korea, Ukraine, and China. These countries consistently rank poorly on cybercrime indicators, reflecting both their exposure to and involvement in cyber operations.
Despite the relative invisibility of these crimes, unlike physical forms of violence, cyber-dependent crimes are quietly becoming one of the most severe threats to national and global stability.
In response, international and regional efforts have intensified. In November 2024, INTERPOL and AFRIPOL led a continent-wide operation that resulted in over 1,000 arrests and the dismantling of 134,000 malicious networks and infrastructures across Africa.
Similarly, the World Bank and other international partners have focused on capacity building, helping developing nations enhance their digital defenses and build sustainable cybersecurity systems.
The most ambitious effort came in December 2024, when the United Nations General Assembly adopted the UN Convention against Cybercrime, aimed at boosting global collaboration and harmonizing national laws.
The treaty criminalizes a broad range of online offences and compels member states to upgrade their digital investigation and enforcement capabilities.
However, while the convention has been hailed as a milestone, it also exposes the complexities of cyber governance. Critics argue that the treaty lacks strong human rights protections, potentially enabling state abuse.
Human rights organizations, including Amnesty International, warn that vaguely worded cyber laws in some countries risk being used to suppress dissent, surveil citizens, and criminalize legitimate journalism.
Against this global backdrop, Ghana’s President, John Dramani Mahama, has launched a sweeping national effort to combat cybercrime and build a secure digital economy.
Speaking at the opening of the 2025 National Cyber Security Awareness Month in Accra on October 1, 2025, President Mahama described cyber threats as borderless, invisible, and constantly evolving, warning that they pose a growing danger to both national and economic security.
To coordinate the national response, Mahama inaugurated the Joint Cyber Security Committee, comprising 18 members drawn from key security, intelligence, and regulatory agencies.
The Committee will work closely with the Cyber Security Authority to develop and implement a unified national cyber strategy.
“Cybersecurity must not be fragmented,” the President emphasized. “It demands unity of purpose, a clear strategy, and disciplined education.” The awareness month, themed “Building a Safe, Informed, and Accountable Digital Space,” aims to rally citizens and institutions toward shared responsibility in the digital sphere.
As part of the broader Reset Ghana Agenda, President Mahama announced the creation of a US$50 million FinTech Growth Fund to support innovation and entrepreneurship in the financial technology sector.
The fund will provide capital for local startups to develop homegrown digital solutions for domestic and continental markets.
“We want Ghanaian innovators to create solutions for Ghanaian challenges, and expand them across Africa,” Mahama declared.
The President also warned perpetrators of romance scams and online fraud that both Ghanaians and foreigners involved in such activities would face prosecution, including extradition to international partners.
“Anybody involved in romance scams, whether a foreigner or Ghanaian citizen, will be handed over to face justice,” he vowed.
Mahama noted that 20 percent of global cyber incidents in the past two decades have targeted the financial sector, resulting in losses exceeding US$12 billion. Since 2020, cyber-related losses worldwide are estimated at over US$2.5 billion. Ghana, he added, has not been spared, citing cases of phishing, identity theft, and insider abuse within financial institutions.
To empower the next generation, Mahama highlighted several ongoing initiatives under Ghana’s digital transformation agenda. The One Million Coders Programme, launched in April 2025, seeks to train young people in software engineering, data analytics, and cybersecurity. Pilot projects are already underway in Greater Accra, Ashanti, Bono, and Upper East Regions.
Complementing this is the Digital Jobs Initiative, a public-private partnership aimed at creating regional ICT parks and business process outsourcing (BPO) centres. A flagship project under this initiative is the redevelopment of the Dawa ICT Park into an international technology hub.
The President further emphasized that Ghana’s 24-Hour Economy initiative, which aims to boost productivity through round-the-clock operations, depends on strong cybersecurity systems to protect businesses, hospitals, and government institutions.
Mahama announced Ghana’s intent to ratify and sign the UN Convention on Cybercrime later this month, aligning the nation with international standards for digital investigation, prosecution, and data protection. He reiterated that technology alone is insufficient without an informed and vigilant public.
“Our citizens are our first line of defense,” he said. “A simple click can have consequences, and vigilance online is as important as vigilance on our streets.”
The government, he noted, is integrating digital literacy into school curricula and launching nationwide community campaigns to raise awareness of online risks and responsible internet use.
By Prince Ahenkorah