{
  "id": 12408792,
  "title": "BoG orders banks to give fraud units direct access to CEOs",
  "url": "https://urgent.news/2026/10/06/bog-orders-banks-to-give-fraud-units-direct-access-to-ceos",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T15:36:14.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/bog-orders-banks-to-give-fraud-units-direct-access-to-ceos/"
  },
  "original_language": "en",
  "account": "The Bank of Ghana (BoG) has instructed banks to grant fraud units unrestricted access to managing directors and chief executive officers, according to Governor Dr Johnson Asiama. The central bank has received feedback from the Ghana Association of Banks regarding current configurations of fraud functions within financial institutions. Speaking at a gathering of bank executives, Dr Asiama highlighted fraud as a major risk that necessitates serious attention from the banking sector. He emphasized the importance of robust policies and controls to prevent, identify, and prevent fraudulent activities. \"The fraud function should be properly positioned with direct and unrestricted access to the managing director or chief executive officer,\" stated Dr Asiama. This directive is aimed at ensuring the independence and effectiveness of fraud management within banks. Furthermore, the governor mandated banks to ensure that individuals responsible for fraud management possess the necessary skills, professional certifications, and technical expertise. The BoG's directive comes as the central bank intensifies its supervisory oversight of risks arising from the increasing digitization of financial services. Dr Asiama noted that the BoG is also closely monitoring cyber technology and fintech-related risks, acknowledging that while digitalization has brought significant benefits to the financial sector, it has simultaneously heightened operational and cyber risks. The central bank is collaborating with industry stakeholders to implement the Cyber and Information Security Directive and will enhance supervisory expectations related to technology, customer fund protection, and third-party risks.",
  "summary": "The Bank of Ghana (BoG) has directed banks to strengthen the independence and effectiveness of their fraud management functions, including giving fraud units direct and unrestricted access to managing directors and chief executive officers. Governor Dr Johnson Asiama said the central bank has received concerns from the Ghana Association of Banks about the different ways […]",
  "key_points": [
    "Bank of Ghana orders banks to grant fraud units direct access to CEOs.",
    "Governor Dr Johnson Asiama emphasizes fraud as major risk needing attention.",
    "Directive aims to ensure independence and effectiveness of fraud management."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Joy Business",
        "title": "BoG orders banks to give fraud units direct access to CEOs",
        "url": "https://urgent.news/2026/10/06/bog-orders-banks-to-give-fraud-units-direct-access-to-ceos-12414728",
        "published": "2026-10-06T15:36:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}