Ghana’s banking sector saw a sharp 33% rise in staff-involved fraud in 2024, leading to the dismissal of 155 employees caught in the act.
In a very disturbing development, staff involvement in fraud across Ghana‘s banks and Specialised Deposit-Taking Institutions (SDIs) saw a sharp increase of 33% in 2024.
The figure rose from 274 cases in 2023 to 365 in 2024, threatening the safety of customers in the hands of some bank officials.
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This worrying trend was revealed by the 2024 Fraud Report published by the Bank of Ghana.
As part of the measures to clamp down on these developments, the sector cracked the whip by dismissing 155 staff found complicit in the heinous activities.
The report further revealed that internal fraud remains a serious threat to the sector, with 75% of implicated staff engaged in cash theft or suppression, slightly down from 77% recorded in 2023. 83 of the fired, representing 54% of the total culprits were sacked due to cash-related fraud.
The Bank of Ghana has expressed deep concern over this consistent upward trend and has directed banks and SDIs to tighten their internal controls, enhance staff vetting during recruitment, and step up professional conduct training.
Institutions have also been urged to pursue legal action against fraudsters to serve as a deterrent.
Despite the challenges, some moderate progress was made in fraud recovery efforts. GH¢3 million, representing just 4% of the total fraud value at risk of GH¢83 million was recovered, bringing the effective exposure down to GH¢80 million.
The central bank attributes this to collaborative efforts among stakeholders and improved fraud prevention measures across institutions.
Last Updated on March 9, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
