The number of bank and Specialised Deposit-Taking Institution (SDI) employees implicated in fraud declined by 40 percent in 2025, according to the Bank of Ghana’s latest Fraud Report.
The report said 219 employees were cited for fraud in 2025, down from 365 in 2024, reflecting improvements in internal controls and oversight across the financial sector.
However, despite the decline in staff-related fraud, the total value at risk from fraudulent activities increased to GH¢101 million, highlighting the continued financial impact of fraud on financial institutions.
Internal fraud cases decline
According to the report, banks recorded a 34 percent reduction in fraud incidents, while SDIs registered a 47 percent decline in reported cases.
The Bank of Ghana attributed the improvement to stronger internal monitoring systems, tighter controls and enhanced supervision within financial institutions.
The report noted that the reduction in employee involvement suggests institutions are strengthening their fraud detection and prevention measures.
Cash theft remains the biggest threat
Despite the overall decline in staff-related fraud, cash theft and cash suppression continued to account for the majority of internal fraud cases.
The report revealed that 139 of the 219 employees, representing 63 percent, were implicated in cash theft or cash suppression.
Although banks accounted for only 22 percent of reported cash suppression cases, they recorded the highest financial exposure.
According to the report, banks recorded approximately GH¢40.7 million in value at risk from cash suppression, representing 96 percent of the total exposure across banks and SDIs.
The central bank said the high figure was largely driven by a single incident involving GH¢36 million at one financial institution.
Fraud-related dismissals also fall
The report also recorded a significant decline in staff dismissals linked to fraud.
Banks and SDIs dismissed 75 employees in 2025, compared with 155 in 2024, representing a 52 percent decrease.
Of the 219 employees implicated in fraud, only 34 percent were dismissed after investigations and disciplinary processes.
Cash theft remained the leading cause of dismissals, accounting for 44 cases, or 59 percent of all staff dismissed during the year.
BoG urges stronger fraud controls
The Bank of Ghana said financial institutions must continue strengthening internal controls as digital financial services expand and fraud schemes become increasingly sophisticated.
While the reduction in employee involvement reflects progress in improving institutional resilience, the central bank warned that the significant financial losses associated with cash-related fraud underscore the need for stronger monitoring systems, enhanced accountability and proactive fraud prevention measures.
The report also noted that Ghana’s financial sector recorded an overall increase in fraud cases in 2025, driven largely by a surge in electronic fraud within the Payment Service Provider sector.
