Ghana rated medium risk for money laundering
By Praisebell Rosemond Larbi
Ghana’s exposure to money laundering (ML) has been assessed as Medium, reflecting a balanced picture of progress made in curbing financial crimes and areas where stronger enforcement is still required.
This is according to the 2025 Anti-Money Laundering Report, released this week.
The report highlights that Ghana has made notable progress in tackling key predicate offences such as fraud, forgery and tax evasion, which often generate illicit proceeds feeding into money laundering channels.
Stronger enforcement of the legal framework, improved collaboration with international partners and enhanced capacity of law enforcement agencies were credited with driving these gains.
In the financial sector, significant regulatory improvements have reduced risks across banking, insurance, securities and Designated Non-Financial Businesses and Professions (DNFBPs).
The Financial Intelligence Centre (FIC) has stepped up monitoring and reporting mechanisms, while financial institutions have deepened their due diligence processes.
These measures have collectively contributed to lowering sectoral vulnerabilities.
The report further noted that Ghana has demonstrated commitment to addressing cross-border money laundering, particularly through active participation in international cooperation frameworks such as the Egmont Group and the Asset Recovery Inter-Agency Network of West Africa (ARINWA).
Progress has also been made in strengthening capabilities to seize, freeze and confiscate assets derived from criminal activity.
However, challenges remain. One major concern stems from the passage of Act 1044, which removed the jurisdiction of the Circuit Court to adjudicate money laundering offences.
This development has inadvertently slowed prosecutions, creating difficulties for law enforcement officers seeking to secure convictions at the lower court level.
To ensure Ghana maintains momentum in lowering money laundering risks, the report recommended several strategic actions.
These include enhancing training and capacity-building for law enforcement agencies, the judiciary and other competent authorities.
It also called for strengthening enforcement mechanisms for asset seizure and confiscation laws to ensure illicit wealth is effectively stripped from offenders.
Additionally, the report urged prioritisation of the integration of the Integrated Electronic Case Management System (IECMS) with national and international databases to improve information sharing and case tracking.
The report concluded that while Ghana’s anti-money laundering framework has matured considerably, sustained reforms and consistent enforcement will be critical in reducing risks further and safeguarding the integrity of the financial system.
