The Bank of Ghana (BoG) has introduced updated Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML/CFT/PF) guidelines, designed to strengthen regulatory oversight and ensure stricter compliance within the financial sector.

According to the central bank, the initiative forms part of broader efforts to protect the country’s financial system from illicit financial activities and to align national practices with global standards.

The revised September 2025 directive introduces more robust due diligence measures for banks, specialised deposit-taking institutions, and other regulated financial entities.

These institutions are now required to carry out enhanced identity verification, assess risk exposures more thoroughly, and report suspicious transactions swiftly to the Financial Intelligence Centre (FIC).

The guidelines also impose greater responsibility on boards of directors and senior management to supervise compliance frameworks and maintain continuous staff training in anti-money laundering protocols.

The BoG noted that the new framework seeks to reinforce risk-based supervision and prevent financial institutions from being exploited for money laundering, terrorism financing, or proliferation-related offences.

It further includes new clauses on politically exposed persons, beneficial ownership transparency, and the use of technology to track financial transactions.

By fortifying Ghana’s AML/CFT system, the central bank aims to bolster financial stability, build investor confidence, and enhance the country’s reputation as a credible and transparent financial hub.

The BoG stated that the guidelines are consistent with Financial Action Task Force (FATF) recommendations and support national efforts to meet international compliance standards ahead of forthcoming peer reviews.

Financial institutions have been urged to acquaint themselves with the new framework and ensure full adherence, as non-compliance will attract regulatory penalties.