In a decisive move to address rising internal fraud, banks in Ghana are set to intensify collaboration with law enforcement agencies to restore confidence and stability within the financial sector.
This follows the latest Annual Fraud Report, which revealed a sharp 46 percent increase in fraudulent activities involving bank staff and employees of Specialised deposit-taking institutions (SDIs).
The report highlighted a surge from 188 implicated staff in 2022 to 274 in 2023.
Speaking at the 41st Annual General Meeting of the Ghana Association of Banks in Accra, the President of the Association, John Kofi Adomakoh, stressed that legal punitive measures will complement strengthened internal controls to curb the trend.
“Banks are heavily investing in automation to reduce fraud and we are also embarking on a tight risk policy to ensure that some of these fraud cases are prevented,” he said.
He added ‘We don’t only sack them but the evidence we have is what we make available to the police, it goes to court and the court makes a decision. If you steal and we catch you, yes, we will fire you, but we will also prosecute you.”
Source: Emmanuel Oppong
