Author - Daniel Asamoah
29Jul

Increase investments in digitisation platforms to ensure safe trade transactions under AfCFTA – BoG

Governor of the Bank of Ghana, Dr. Ernest Addison is urging banks and non-bank financial institutions on the continent to increase investments in digitisation platforms as well as cyber-security systems to facilitate safe and secure trade transactions through the Africa Continental Free Trade Area, AfCFTA agreement. According to him, this will ensure the development of a robust financial sector to...

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29Jul

Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau

Cyber security firm, e-Crime Bureau is encouraging businesses in the financial sector to beef up their security and ensure they safeguard their systems to mitigate the occurrence of fraud. This follows a recent report by the bank of Ghana which indicated an increase in fraud-related losses by Banks and specialized deposit taking institutions in Ghana in 2021 to GH¢61 million...

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29Jul

We’ve put in place adequate policies to reduce money laundering, others

The Governor of the Bank of Ghana, Dr. Ernest Addison, says, there are adequate policies and protections in place to strengthen Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) activities. This will create a robust and a sound financial system to support regional trade. According to him, Ghana’s financial sector can therefore be instrumental in meeting the funding needs of...

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29Jul

Allow non-resident Ghanaians to use passport for banking transactions – BoG to banks

The Bank of Ghana (BoG) has directed banks to allow non-resident Ghanaians who cannot access the Ghana Card to use their passports to access banking transactions until such a time that the facility will be made available to them. This is coming after the Central Bank enforced the July 1, 2022 directive that resident Ghanaians cannot undertake banking transactions without...

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06Jul

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

The Ghana Association of Banks has assured that despite the end of the period given for customers of financial institutions to update their data with the Ghana Card, they will be able to still carry out banking transactions even without the card. The directive regarding the update of the data of customers of financial institutions was issued by the Bank...

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06Jul

EOCO cautions public against falling prey to fraudulent banking transactions

The Economic and Organized Crime Office (EOCO) is warning the public about fraudulent banking transactions. EOCO in a statement signed by Head of Public Affairs, Faustina Lartey on June 30, noted that “fraudsters have taken advantage of the ongoing call for bank customers to link their accounts to their Ghana Cards.” “The Economic and Organised Crime Office has noticed with great concern the...

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06Jul

BoG pledges to continue to monitor rapid evolution of risks in digital financial ecosystem

The Bank of Ghana has pledge to continue to monitor the rapid evolution of risks in the digital financial services ecosystem and recalibrate rules and supervisory approaches and tools to help mitigate them. It will also ensure that regulated institutions effectively manage the risks that their businesses and actions or inactions pose to the entire system. Speaking at the Annual General...

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06Jul

‘A person with bad integrity will still steal if you pay them a million’ – John Awuah on bankers’ involvement in bank frauds

The Chief Executive Officer of the Ghana Association of Bankers, John Awuah, says the issue of the involvement of bank staff in banking sector frauds should not be solely blamed on compensations and remunerations. According to him, this untoward behavior has more to do with the degenerating moral fabric of the Ghanaian society than remunerations. Speaking on JoyNews’ PM Express Business...

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06Jul

Insurance companies educate public on policies

Insurance companies that participated in the maiden insurance fair organised by the Ghana Insurance Association (GIA) in collaboration with Graphic Business, have engaged the public on the various insurance policies available to them. The three-day event which started last Wednesday, June 22 and ended last Friday, June 23, 2022, formed part of the insurance awareness month. It was also aimed at...

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06Jul

BoG must enforce regulations on informal forex trading – Prof. Quartey

Economics Professor and the Director of the Institute of Statistical, Social and Economic Research, Prof. Peter Quartey has bemoaned the seeming lack of action against persons engaged in the illegal trade of foreign exchange, especially the US Dollar, in different parts of the country. According to him, the informal foreign exchange market is contributing to the volatility in the space. A...

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