- The Bank of Ghana has announced there were 40 cases of cheque fraud in the year 2019
- It added that in the same year, the total cases of fraud stood at 2,295, which was a 5.4% increase compared to the preceding year
- The Bank of Ghana revealed that about GHc115.52 million was involved in fraud cases in 2019
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The latest report from the Bank of Ghana (BoG) shows there was a 3% increase in cases of cheque fraud in the year 2019.
YEN.com.gh understands that the number increased to 40 from 39 in the preceding year and included acts of cloned cheques, stolen cheque leaflets, and cheque alteration.
Information available shows there was a significant increase in cases of cheque cloning and this originated from a syndicate.
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Those involved, per a report by 3news.com, include the staff of financial institutions, telecommunications companies, and cheque-printing houses.
Again in 2019, the BoG recorded a total of 2,295 cases of fraud, representing a 5.4% increase in cases reported in 2018. Rural and community banks reported 55% of the cases. Commercial banks and savings and loan institutions reported 23% and 22% of the cases respectively.
The BoG further indicated that about GHc115.52 million was reported as fraud in the year in question. Out of the amount, about GHc33.44 million, representing 28.96%, was reported as losses incurred while an estimated GHc82.06 million, representing 71.04%, was recovered.
In total, 83 institutions reported cases in 2019 while 72 of them reported such cases in 2018.
YEN.com.gh earlier reported that the Bank of Ghana (BoG) has cautioned financial institutions in Ghana against falling victim to the activities of fraudsters.
It revealed that some people have developed a new version of Mobile Money fraud and, as such, everyone needs to be careful.
According to the BoG, the fraudsters call the staff of the bank and inform them that they operate from the head office of one of the telecommunication companies.
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