Staff fraud surges 46%, financial losses reach GH¢63M in 2023 – BoG
The Bank of Ghana (BoG) has raised alarms over the rising number of staff involved in fraudulent activities within banks and specialised deposit-taking institutions (SDIs). According to the Central Bank’s 2023 fraud report, staff-related fraud incidents surged from 188 in 2022 to 274 in 2023, reflecting a significant 46% increase. Of the 274 cases involving staff, 211 were related to cash theft (cash suppression), where employees concealed and diverted cash deposits or customer payments. This marks a notable increase from the 140 cases recorded in 2022. In response, the BoG has urged banks and SDIs to strengthen internal controls, enhance...
