Fraud Prevention and Security Consultant, Richard Kumadoe has pointed out that banks in Ghana do not pay their contract staff well hence the increasing incidents of fraud.
His comment was on the back of the case of Martha Amakye, a contract staff of Stanbic Bank Ghana who was found guilty and handed an 8-year jailed sentence by an Accra High Court for stealing GHc 1,800,000 and engaging in fraudulent transactions.
“They don’t pay them properly, the contract between them and the contract staff does not normally go well, nobody pays close attention to the contract staff and depending on the flexibility and authority they give them that gives them access to many of these accounts” he mentioned to Johnnie Hughes on 3FM Sunrise Morning Show.
Mr. Kumadoe further explained that because of the pressure at work, banks don’t do “call overs” and it allows the perpetrators of fraud in the bank to create isolation and once they have isolation, it enables fraud to spread in the financial sector as quickly as bush fire.
“When you look at it you could see elements of isolation there, you could see elements of negligence from not doing the call over properly, then you could also see the maltreatment of the contract staff” he observed.
The Fraud Prevention and Security Consultant added that the contract workers who work within the financial sector are also human beings and they see the lifestyle and conditions of the permanent staff. But they don’t get it like that so if you don’t keep a close eye on them and ensure that the contract between them and the agency is properly done, fraud is what you are leading them to.
He explained that the subject in question was a contract staff and the accounts she targeted are dormant accounts with heavy money and that has always been a red flag for many of the banks and for the frontline staff office.
Richard Kumadoe again emphasized that banks owe a duty of care to educate their customers and also swiftly as possible communicate to their stakeholders when issues of fraud occur.
“I was not surprised it is a contract staff and I was not surprised of the account she decided to pick at, which goes to the fault that we need to do more in terms of training, and we need to educate both customers of the banks and those who work for it” he admonished.
Source: 3news.com|Ghana