BOG Begins Audit Of Remittance Activities

BOG Begins Audit Of Remittance Actions

The Financial institution of Ghana (BOG) has introduced that it’s conducting an audit of remittance transactions overlaying the interval 1st October 2024 to thirty first December 2024.

A press release issued and signed on Wednesday, February 19, 2025, by the Secretary of the Financial institution, Sandra Thompson stated the target of the audit is to evaluate the remittance course of and to supply suggestions to strengthen the prevailing regulatory framework.

It stated the audit will consider compliance with all relevant rules, together with the International Alternate Act 2006, Act (723), the Up to date Pointers for Remittances, the Fee Providers Act 2019 (Act 987), and the Anti-Cash Laundering/Combating the Financing of Terrorism (AML/CFT) Pointers”.

“All market contributors are reminded of their obligation to conform totally with these regulatory necessities. Strengthening adherence to those pointers will improve the remittance ecosystem, promote transparency, mitigate AML/CFT dangers, and contribute to the general deepening of the International Alternate Market,” it added.

By Ebenezer Ok. Amponsah

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