Bank of Ghana tasks police to vet bank staff to halt fraud

- The Bank of Ghana has directed banks to secure the services of police officers to vet applicants before employment

- This follows an increase in the number of cases of fraud at banks in the country

- The police officials are primarily required to establish if the applicant has a criminal record

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YEN.com.gh has learned that police officials have been directed to interview potential employees of banks before they are considered for employment.

The directive comes from the Bank of Ghana (BoG) and is a measure to curtail fraudulent practices in the banks.

Information available shows that the idea is to determine whether such people have any criminal history.

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Per a report by thebftonline.com, the instruction follows the publication of the Banking Industry Fraud Report by the BoG.

The BoG added that even after employment, banks are expected to strictly monitor staff by implementing relevant controls.

It further indicated that remuneration and working conditions of contract staff and mobile bankers in banks and specialised deposit-taking institutions should be reviewed and aligned to that of permanent staff since they are often found to be involved in suppressing the value of cash and deposits.

The BoG again advised customers to use efficient electronic payment methods that keep an audit trail of fund movements, even as banks and specialized deposit-taking institutions enforce directives and due diligence on ‘over the counter’ payments.

YEN.com.gh earlier reported that the latest report from the Bank of Ghana (BoG) shows there was a 3% increase in cases of cheque fraud in the year 2019.

The number increased to 40 from 39 in the preceding year and included acts of cloned cheques, stolen cheque leaflets, and cheque alteration.

There was also a significant increase in cases of cheque cloning and this originated from a syndicate.

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Source: YEN.com.gh