This study measures the influence of fear of financial loss (FOFL), fear of reputational damage (FORD), with the mediating effect of online security and privacy concern (OSPCON) towards online purchase intentions in an emerging economy’s context. Data was conveniently collected from University students of four of the public higher institutions in Ghana. Out of the 201 questionnaires distributed, 179 were eligible for analysis. A Quantitative methodological approach was adopted which relied on the Partial Least Square approach to Structural Equation Modelling (PLS-SEM) for the statistical analysis. Seemingly, FOFL and FORD constructs were not seen to be a significant direct predictor of online purchase intention. However, the mediating effect of OSPCON for both FOFL and FORD towards online purchase intention in the Ghanaian context was found to be significant, hence the mediated-hypotheses were supported. Nonetheless, we have highlighted the need for additional and further research taking a cue from the study’s limitations. The study contributes to our knowledge of how online identity theft practices lead to the unwillingness of online customers to embark on online transactions in an emerging economy, given the rampant outburst of online transactions in the developed world. The originality of this study is in the fact that it focuses on an emerging economy, which is under-researched.