The Bank of Ghana (BoG) has introduced new Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML/CFT/PF) Guidelines designed to enhance oversight and ensure improved compliance throughout the financial sector.
According to the central bank, this initiative is part of ongoing efforts to strengthen Ghana’s financial system against illicit financial activities and to align the nation’s practices with global standards.
The updated guideline, published in September 2025 by the Central Bank, presents enhanced due diligence requirements for banks, specialized deposit-taking institutions, and other regulated financial entities.
Institutions are now mandated to more thoroughly identify and verify their customers’ identities, evaluate risk exposure, and promptly report any suspicious transactions to the Financial Intelligence Centre (FIC).
Additionally, it imposes greater accountability on boards and senior management to supervise compliance frameworks and ensure ongoing staff training in anti-money laundering practices.
The BoG underscores that the guideline aims to strengthen risk-based supervision and prevent financial institutions from being exploited as channels for money laundering, terrorism financing, or proliferation-related activities.
It also includes new provisions regarding politically exposed persons, beneficial ownership transparency, and the application of technology in monitoring financial transactions.
By reinforcing Ghana’s AML/CFT framework, the Bank of Ghana aspires to improve financial stability, bolster investor confidence, and enhance the country’s global standing as a secure and transparent financial center.
The central bank asserts that the new guideline is in accordance with the Financial Action Task Force (FATF) recommendations and supports national efforts to achieve international compliance standards, especially in anticipation of forthcoming peer evaluations.
The Bank has called upon all financial institutions to become acquainted with the new framework and guarantee complete compliance, cautioning that failure to adhere will result in regulatory penalties.
