The Bank of Ghana (BoG) continues to express concern over the involvement of bank staff in financial sector fraud.

Speaking at the 60th Anniversary of the Chartered Institute of Bankers Conference in Accra on behalf of the Governor, Dr. Bernard Otabil, the Director of Ethics and Internal Investigations at the Central Bank, noted that although there has been a reduction in reported cases, it remains a top concern for both the Central Bank and the banking sector.

The Bank of Ghana emphasizes that a single fraud case involving an employee affects the entire industry and undermines public confidence. Dr. Otabil highlighted that the decrease in fraud cases last year indicates that more efforts are needed to address this issue.

“A single case of fraud, involving an employee of a bank or any financial institution, affects the whole industry and weakens public confidence in the industry. Although the 2022 Banks, SDIs, and PSPs Fraud report showed a decline in staff involvement in fraud cases to 188 in 2022 from 278 in 2021, the persistence of these unethical acts among employees of Banks and SDIs remains a concern. As reported, most of the incidents involving bank staff and had to do with cash theft (cash suppression) from customers’ accounts and fraudulent withdrawals on accounts of customers”. he said.

The Chartered Institute of Bankers Ghana utilized the event to unveil a new curriculum focused on ethics and professionalism for industry practitioners.

The President of the Chartered Institute of Bankers Ghana, Benjamin Amenumey, anticipates that the new curriculum will enhance the professionalism of its members.

The conference on Banking and Ethics, held under the theme "Redefining Professionalism in Banking through Ethics," aimed to address issues related to ethics and professionalism in the banking industry.