August 6 2018
Banks and Specialised Deposit Taking Institutions (SDIs) that fail to comply with the central bank’s Anti-Money Laundering regulations risk paying as much as sixty thousand cedis (GH¢60,000) in fine beginning this month.
This follows the implementation of the Bank of Ghana’s laws on Anti-Money Laundering (AML). The document also comes days after a foiled cyber attack on UMB. In all, nineteen lapses and their corresponding fines have been outlined by the Bank of Ghana.