About 40% of graduates go into financial sector to commit fraud - MD of Cal Bank

About 40% of graduates go into financial sector to commit fraud - MD of Cal Bank

Managing Director of investment bank, Cal Bank, Frank Brako Adu has revealed a rather surprising statistic that 4 out of 10 graduates only go into the financial sector to get quickly rich and are forced to commit fraud.

The managing director of Cal Bank, Frank Brako Adu has lashed out at young Ghanaian graduates among whom he claims 40% go into the financial sector with the intention to commit fraud.

It is not clear where the banking chief got his numbers, but in a report sighted by YEN.com.gh on Ghanacrusader.com, Adu was quoted as saying: "40% of all new graduates who go into banks, cashiering jobs, etc, go with an intention of defrauding the institution.”

This number, if true, apart from being a worrying moral problem, speaks to the future of Ghana and where it could be heading.

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Adu continued that there is a lot of fraud in the banks everyday, with the worst located in the cyber aspect of the industry.

According to the Cyber Crime Unit of the Ghana Police Service, Ghana lost $229.9 million or GHC 1.2 billion to cyber crime between August 2016 and August 2018.

According to the Cyber Crime Unit of the Ghana Police Service, Ghana lost $229.9 million or GHC 1.2 billion to cyber crime between August 2016 and August 2018.made this disclosure, said, $28 million or about GHC 150 million representing 40% of cyber crime losses in 2017, were monies stolen from banks.

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Meanwhile, the Speaker of Ghana's Parliament, Professor Aaron Mike Oquaye, has called on the House Committee of Parliament to take steps to implement a pension scheme for MPs.

This, he said, would help cushion them during the retirement as some ex-MPs have been known in the past to lament about their impoverished situation after leaving Parliament.

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Source: Yen

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