The 2025 Bank of Ghana (BoG) Fraud Report has revealed that 75 out of the 219 employees implicated in fraud across banks and Specialised Deposit-Taking Institutions (SDIs) in 2025 were dismissed, representing just 34 per cent of all staff linked to fraudulent activities during the year.
Forty Four out of the figure, which represents 59 per cent, were involved in cash theft and cash suppression
In a similar report recorded in 2024, 155 staff were dismissed by the banks for their alleged involvement in fraud related cases.
Despite the low number of dismissals recorded last year, the report indicated that staff involvement in fraud remained significant.
Although the number of employees implicated in fraudulent activities declined from 365 in 2024 to 219 in 2025, a total of 139 staff, representing 63 per cent, was involved in cash theft and cash suppression.
While only 22 per cent of cash suppression cases occurred in banks, the banking sector accounted for 96 per cent of the total value at risk under the fraud category, amounting to about GH¢40.7 million.
One Institution Behind GH¢4.1m Document Fraud
The report also revealed that a single Specialised Deposit-Taking Institution (SDI) accounted for GH¢4.1 million out of the GH¢4.2 million recorded under forgery and manipulation of documents in 2025, making it responsible for almost the entire value at risk under the fraud category.
According to the report, the value at risk associated with document fraud surged from GH¢10,000 in 2024 to GH¢4.2 million in 2025.
However, the Bank of Ghana did not disclose the identity of the institution responsible for the GH¢4.1 million exposure.
Fraud Cases Fall, But Losses Rise
Although the overall number of fraud cases in the SDI sector dropped from 344 in 2024 to 182 in 2025, representing a 47 per cent decline, the value at risk increased sharply from GH¢4.5 million to GH¢8 million, representing a 77 per cent increase. The report attributed the rise largely to the spike in document fraud.
Cash Suppression
Cash suppression remained the most frequently reported fraud in the SDI sector, although cases declined from 267 in 2024 to 109 in 2025. Rural and Community Banks recorded 56 of the cases, representing 51 per cent of all reported incidents.
The value at risk under cash suppression also increased slightly from GH¢1.6 million to GH¢1.7 million, with Rural and Community Banks accounting for 90 per cent of the total value at risk.
The report further indicated that the value at risk associated with burglary increased from GH¢730,000 in 2024 to GH¢1.18 million in 2025, making it the third highest fraud category by value at risk in the SDI sector.
The Bank of Ghana said the findings highlight the need for stronger internal controls, improved fraud detection systems and enhanced risk management measures across regulated financial institutions to reduce fraud and protect customers’ funds.
