Bank fraud

The Bank of Ghana (BoG) has raised concerns over the number of staff involved in fraudulent activities in banks and specialised deposit-taking institutions (SDIs). Data from the Central Bank’s 2023 fraud report reveals that staff-related fraud from banks and SDIs rose from 188 in 2022 to 274 in 2023, representing an increase of 46%. Out of the 274 cases of fraud recorded involving staff in 2023, 211 were involved in cash theft (cash suppression), which refers to the process of concealing and diverting cash deposits or cash received from a customer, as compared to 140 staff involved in 2022. The…