The Bank of Ghana (BoG) has unveiled revised guidelines on Anti-Money Laundering, Combating the Financing of Terrorism, and Proliferation Financing (AML/CFT/PF), aimed at enhancing regulatory control and ensuring stricter adherence across the financial sector.
The central bank explained that the updated framework is part of a broader initiative to safeguard Ghana’s financial ecosystem from unlawful financial flows and to harmonize domestic practices with international benchmarks.
The updated directive, issued in September 2025, introduces more stringent due diligence protocols for banks, specialised deposit-taking institutions, and other licensed financial service providers.
Under the new rules, these institutions are mandated to implement advanced identity verification procedures, conduct comprehensive risk assessments, and promptly report any suspicious financial activity to the Financial Intelligence Centre (FIC).
Additionally, the guidelines place increased accountability on boards of directors and top executives to oversee compliance systems and ensure ongoing staff training in anti-money laundering procedures.
The BoG emphasized that the revised framework is designed to strengthen risk-based supervision and prevent the misuse of financial institutions for money laundering, terrorist financing, or proliferation-related crimes.
Key additions to the guidelines include provisions on politically exposed persons, transparency in beneficial ownership, and the integration of technology to monitor financial transactions more effectively.
By reinforcing Ghana’s AML/CFT regime, the central bank aims to promote financial system integrity, boost investor trust, and position the country as a reliable and transparent financial centre.
The BoG further noted that the updated guidelines align with the recommendations of the Financial Action Task Force (FATF) and support Ghana’s efforts to meet global compliance expectations ahead of upcoming peer evaluations.
Financial institutions have been advised to familiarize themselves with the new regulations and ensure full compliance, as failure to do so will result in regulatory sanctions.
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