75 Bank staff dismissed as fraud cases surge 48% - Bank of Ghana report
Bank of Ghana's 2025 Fraud Report, published by the Financial Stability Department, revealed that total reported fraud cases across Banks, Specialised Deposit-Taking Institutions, and PSPs rose from 16,733 in 2024 to 24,778 in 2025, representing a 48 per cent increase. The total value at risk increased marginally from GH¢99 million to GH¢101 million over the same period. The report stated, "The fraud activity has therefore progressively migrated towards the PSP sector, closely correlating with rapid growth in transaction volumes and relatively lower levels of digital literacy among users."
Over four years from 2022 to 2025, total fraud cases increased steadily from 15,164 to 24,778, while aggregate value at risk rose from GH¢82 million to GH¢101 million. In 2025, the number of electronic fraud incidents recorded in the PSP sector was 24,124, representing a 54 per cent rise compared to the 15,673 cases recorded in 2024. The sector recorded a value at risk of GH¢37 million, a significant increase from the GH¢19 million reported in 2024, representing a 95 per cent year-on-year rise. The total value at risk to banks decreased by 24 per cent to GH¢57 million in 2025, compared to GH¢75 million in 2024. Cash suppression accounted for the highest value at risk in 2025, totalling GH¢40.7 million.
Quick Summary
Ghana's financial sector saw a significant rise in fraud cases in 2025, primarily driven by the Payment Service Providers sector. This surge
Summary - read the full story for complete context.
Image: Joy Business
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from Joy Business
Related Stories
More from Business & Economy
GIPA CEO calls for investment to support Ghana's economic transformation
Why is GIPA's CEO pushing for capital and expertise now, and what could it mean for Ghana's future?
20h ago•2 min read
Chamber of Mines challenges Reuters report on proposed mining law
Why is the Chamber accusing Reuters of misrepresenting Ghana's mining law, and what could it mean for the Bill's future?
17h ago•4 min read
Trade Minister launches Invest Ghana Summit, Ghana Club 100 to drive Ghana's new economy
A new push to transform Ghana's economy - but what concrete steps will be unveiled at the summit?
17h ago•2 min read
Ghana's clean cooking drive gets boost with Asharami's new LPG terminal in Tema
A new LPG terminal in Tema could reshape Ghana's clean cooking future - but what does it really mean for supply and prices?
18h ago•3 min read
