BoG warns against return to FATF grey list as financial crime risks rise
Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante Asiedu, has warned that Ghana must strengthen its fight against financial crime to avoid being placed back on the Financial Action Task Force (FATF) grey list. She made the call at the opening of the 2026 Technical Committee Workshop of the Committee for Cooperation […]
The Deputy Governor of Ghana's central bank has cautioned against the nation reverting to the FATF's grey list due to burgeoning financial crime risks. At the commencement of a key workshop, Matilda Asante Asiedu emphasized the gravity of the latest mutual evaluation's outcomes for Ghana. "The outcome of this assessment carries real weight," she stated, warning against the financial repercussions of being grey-listed.
Collaborative efforts under COCLAB, a platform for law enforcement agencies and the banking community, have yielded successful interventions such as the arrest of 430 individuals in an intelligence-led operation. COCLAB is being restructured with a focus on public sensitization, information sharing, and investigation through dedicated working groups and a steering committee.
The warning aligns with a rise in digital financial crime, with fraud incidents in the digital space up by 98% from 2022 to 2025. Asante Asiedu called for a strategic approach to combat this escalating threat, stressing that success should be measured by concrete outcomes like improved intelligence sharing and reduced financial crime.
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