A total of 75 staff members across Banks and Specialised Deposit-Taking Institutions (SDIs) were dismissed in 2025, as fraud cases in Ghana’s financial sector rose sharply by 48 per cent, according to the Bank of Ghana’s 2025 Fraud Report.
The report, issued by the Financial Stability Department, showed that reported fraud incidents across Banks, SDIs, and Payment Service Providers (PSPs) jumped from 16,733 in 2024 to 24,778 in 2025.
While the total value at risk edged up only marginally, from GHC99 million to GHC101 million, the data reveals a stark divergence in fraud patterns across subsectors.
While Banks and SDIs recorded declines in both fraud incidents and financial exposure, the PSP sector saw fraud cases rise by 98 per cent and value at risk increase by 42 per cent.
The report attributed the shift to rapid transaction growth and relatively lower digital literacy among users, stating that “fraud activity has therefore progressively migrated towards the PSP sector.”
In 2025, electronic fraud incidents in the PSP sector reached 24,124, a 54 per cent increase from the 15,673 cases recorded a year earlier.
Value at risk in the sector more than doubled, rising 95 per cent year-on-year to GH¢37 million.
For Banks, total value at risk dropped 24 per cent to GHC57 million in 2025, down from GHC75 million in 2024. However, cash suppression emerged as the dominant risk, accounting for GHC40.7 million, an 18-fold surge driven largely by a single GHC36 million outlier case.
Staff involvement in fraud across Banks and SDIs fell by 40 per cent, from 365 employees in 2024 to 219 in 2025. Of those, 139 (63 per cent) were linked to cash theft or cash suppression.
Dismissals dropped by 52 per cent, from 155 in 2024 to 75 in 2025, with 59 per cent of terminations (44 cases) tied to cash-theft-related fraud.
SDIs recorded a value at risk of roughly GHC8 million in 2025, up 77 per cent from GH¢4.5 million in 2024, with forgery and document manipulation accounting for the largest share at GHC4.2 million, a steep rise from just GH¢0.01 million the previous year.
Across Banks and SDIs, only GHC3.7 million, about 5 per cent of the total GHC68.2 million at risk, was recovered, leaving a net exposure of GHC64.5 million.
The Bank of Ghana stressed that tackling fraud requires coordinated action among financial institutions, law enforcement, regulators, and the public.
“As digitalisation and innovation continue to deepen, the financial landscape becomes increasingly complex, and fraud risks continue to evolve, making constant vigilance and strengthened controls necessary,” the report noted.
The central bank reaffirmed its commitment to a resilient financial sector through enhanced regulatory frameworks, stricter supervision, and targeted fraud-prevention initiatives.
