Only about one in three employees implicated in fraud across Ghana's banks and Specialised Deposit-Taking Institutions (SDIs) were dismissed in 2025, according to the Bank of Ghana (BoG), raising concerns about disciplinary action against staff involved in financial misconduct.

The Central Bank's 2025 Fraud Report revealed that 219 staff members were implicated in fraudulent activities during the year, down from 365 in 2024, representing a 40% decline.

However, only 75 employees, representing 34% of those implicated, were dismissed by their institutions. The number of dismissals also fell from 155 in 2024, a decline of 52%.

According to the report, cash theft and cash suppression continued to dominate employee-related fraud. Of the 75 staff members dismissed, 44 were linked to cash theft-related offences, accounting for 59% of all dismissals during the year.

The Bank of Ghana also found that 139 of the 219 staff members implicated in fraud, representing 63 percent, were involved in cash theft and cash suppression, making it the most prevalent form of insider fraud across banks and SDIs.

While the number of employees involved in fraud has declined, the central bank noted that insider-related fraud continues to expose financial institutions to significant losses. It pointed out that although banks accounted for only 22% of cash suppression cases recorded across banks and SDIs, they represented 96 percent of the total value at risk, amounting to approximately GH¢40.7 million.

The Bank of Ghana said the findings highlight the need for financial institutions to strengthen internal controls, enhance staff oversight and reinforce ethical standards to reduce insider-related fraud.

"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 central bank added that as financial services become increasingly digital and sophisticated, institutions must continue to strengthen governance frameworks and fraud prevention measures to safeguard 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."