A ransomware incident affecting a financial institution in Ghana resulted in a theft of approximately US$120,000, illustrating the increasing impact of cybercrime on financial sectors in Africa. This event was uncovered during Operation Sentinel, a collaborative initiative involving law enforcement from 19 African countries aimed at combating cyber threats.
INTERPOL reported that the attackers managed to encrypt around 100 terabytes of data, significantly disrupting the institution's operations and blocking access to essential systems. Recovery efforts by Ghanaian authorities led to the retrieval of nearly 30 terabytes of data through advanced malware analysis, but the financial ramifications were severe.
Overall, the operation highlighted a larger trend, with reported losses exceeding US$21 million linked to various cybercrimes, including ransomware and digital extortion. INTERPOL’s Director of Cybercrime, Neal Jetton, emphasized the growing sophistication of these attacks and the urgent need for coordinated law enforcement efforts, noting that 574 arrests have been made and around US$3 million has been recovered in connection with the operation.