BoG introduces new measures to tackle money laundering, terror financing
By Stephen Freeman
The Bank of Ghana (BoG) has introduced new Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing (AML/CFT/PF) Guidelines to strengthen oversight and ensure stricter compliance across the financial sector.
According to the central bank, the move forms part of ongoing efforts to safeguard Ghana’s financial system against illicit financial flows and align national practices with international standards.
The revised September 2025 guideline, published by the BoG, introduces enhanced due diligence requirements for banks, specialised deposit-taking institutions and other regulated financial entities.
Institutions are now required to verify the identities of their customers more rigorously, assess risk exposure and report suspicious transactions promptly to the Financial Intelligence Centre (FIC).
The directive also places greater accountability on boards and senior management to oversee compliance frameworks and to ensure continuous staff training on anti-money laundering practices.
The BoG stated that the new guideline is designed to deepen risk-based supervision and prevent financial institutions from being used as conduits for money laundering, terrorism financing or proliferation-related activities.
It further incorporates provisions on politically exposed persons, beneficial ownership transparency and the use of technology in monitoring financial transactions.
By strengthening Ghana’s AML/CFT regime, the Bank of Ghana aims to enhance financial stability, investor confidence and the country’s reputation as a safe and transparent financial hub.
The central bank noted that the guideline aligns with the Financial Action Task Force (FATF) recommendations and supports national efforts to meet international compliance benchmarks, particularly ahead of upcoming peer evaluations.
The Bank has urged all financial institutions to familiarise themselves with the new framework and ensure full compliance, warning that non-adherence will attract regulatory sanctions.
