Seventy-five (75) staff members of banks and specialised deposit-taking institutions (SDIs) were dismissed in 2025 over their involvement in fraudulent activities, as fraud cases in Ghana’s financial sector increased by 48 per cent, a Bank of Ghana (BoG) report has revealed.
The BoG’s 2025 Fraud Report indicated that reported fraud cases across banks, SDIs and Payment Service Providers (PSPs) rose from 16,733 cases in 2024 to 24,778 cases in 2025.
Although the number of fraud cases increased, the total value at risk saw a marginal rise from GH¢99 million to GH¢101 million within the period. The surge was mainly driven by the Payment Service Providers sector, which recorded a 98 per cent increase in fraud incidents and a 42 per cent rise in the value at risk.
According to the report, fraud activities have increasingly shifted towards the PSP sector due to the rapid growth of digital transactions and lower levels of digital literacy among some users.
Meanwhile, fraud cases involving banks and SDIs declined, with staff involvement dropping from 365 cases in 2024 to 219 cases in 2025. Out of the 219 staff linked to fraudulent activities, 139 were involved in cash theft and cash suppression.
The report noted that 75 staff members were dismissed in 2025, representing a 52 per cent reduction from the 155 dismissals recorded the previous year. Forty-four of the dismissed staff were connected to cash theft-related fraud.
The BoG also disclosed that GH¢3.7 million of the total fraud value at risk was recovered, reducing the exposure from GH¢68.2 million to GH¢64.5 million.
The Central bank has called for stronger collaboration among financial institutions, regulators, law enforcement agencies and the public to combat rising fraud risks. It added that as Ghana’s financial sector continues to expand digitally, institutions must strengthen controls and remain vigilant against evolving fraud threats.
Story By: Moudlyn Dzefe
