GAB launches nationwide anti-fraud campaign

Ghana Association of Banks (GAB) has launched a nationwide anti-fraud campaign aimed at protecting customers and strengthening trust within the banking sector. The campaign brought together banks, law enforcement agencies, regulators and government institutions, signaling a coordinated effort to combat financial crime through collaboration, public education and stronger security measures.

Kwamina Asomaning, President of the Ghana Association of Banks, warned that advancements in digital banking, mobile financial services and fintech innovation have created new opportunities for fraudsters. He said, "Digital banking, mobile financial services and fintech innovation have expanded access and convenience for millions. But these same channels have opened new doors for fraudsters who adapt quickly, exploit vulnerabilities and target customers through increasingly sophisticated deception." He also noted that the impact of fraud poses a threat to public confidence in institutions that support the economy, stating, "The risk is not just financial loss. It is the steady erosion of public confidence in the institutions our economy depends on." Mr. Asomaning outlined key measures banks are implementing to strengthen the fight against fraud, including investing in stronger detection and prevention systems, training staff and intensifying customer education. He also emphasized the need for stronger collaboration among stakeholders, insisting that "Fraud cannot be fought in silos. It is a collective responsibility."

The anti-fraud campaign is expected to deepen public awareness and encourage customers to stay alert, identify suspicious schemes and report fraudulent activities as part of efforts to create a safer and more secure banking environment.