The Banks and Specialised Deposit-Taking Institutions (SDIs) recovered only a fraction of funds exposed to fraud in 2025, underscoring the growing challenge financial institutions face in retrieving stolen money despite improvements in fraud prevention.

The Bank of Ghana (BoG), in its 2025 Fraud Report, revealed that banks and SDIs reported a combined GH¢68.2 million in fraud exposure during the year. However, only GH¢3.7 million was recovered, representing just 5.0% of the total amount at risk, leaving losses of approximately GH¢64.5 million.

The figures come against the backdrop of an overall decline in fraud incidents within banks and SDIs. According to the report, fraud cases in banks fell by 34% from 716 in 2024 to 472 in 2025, while cases reported by SDIs dropped by 47%, from 344 to 182 over the same period.

Despite the reduction in reported incidents, the Bank of Ghana noted that a few high-value fraud cases continued to expose institutions to significant financial losses. Cash suppression remained the costliest fraud typology in the banking sector, accounting for GH¢40.7 million in value at risk.

The Central Bank said the sharp increase was largely driven by one outlier fraud case involving GH¢36 million.

Across the entire regulated financial sector, fraud continued to rise.

The Bank of Ghana reported that total fraud cases across banks, SDIs and Payment Service Providers (PSPs) increased from 16,733 in 2024 to 24,778 in 2025, while the total value at risk rose from GH¢99 million to GH¢101 million. The increase was driven almost entirely by fraud within the PSP sector.

The regulator said the low recovery rate demonstrates that although institutions are strengthening fraud prevention and detection systems, recovering stolen funds remains a significant challenge that requires closer collaboration across the financial sector.

"Effectively addressing fraud within Ghana's financial sector demands a unified and sustained effort from all stakeholders (financial institutions, law enforcement agencies, regulatory bodies, and the public)."

The Bank of Ghana said the continued expansion of digital financial services means fraud risks will become increasingly sophisticated, making stronger internal controls, enhanced supervision and public awareness critical to protecting the integrity of Ghana's financial system.

"As digitalisation and innovation continue to deepen, the financial landscape becomes increasingly complex and fraud risks continue to evolve, making constant vigilance and strengthened controls necessary." The Central Bank reaffirmed its commitment to strengthening regulatory oversight and supporting industry-wide fraud prevention initiatives to promote a resilient and secure financial sector