The Bank of Ghana (BoG) says employee involvement in fraud across the banking sector declined significantly in 2025, but only about one-third of staff implicated in fraudulent activities were dismissed by their institutions.

According to the Central Bank's 2025 Fraud Report, the number of employees involved in fraud across banks and specialised deposit-taking institutions (SDIs) dropped from 365 in 2024 to 219 in 2025, representing a 40% decline.

Of the 219 staff implicated in fraud, 139 cases, representing 63%, were linked to cash theft and cash suppression, down from 75% recorded the previous year.

However, despite the decline in staff involvement, the Bank of Ghana said only 75% were dismissed in 2025, representing 34% of all staff implicated in fraud. The figure is also a 52% decline from the 155 dismissals recorded in 2024.

The Central Bank noted that 44 of the 75 dismissals, representing 59% were linked to cash theft and cash suppression.

Although banks accounted for just 22% of all cash suppression cases recorded across banks and SDIs, the Bank of Ghana said those cases represented approximately GH¢40.7 million, or 96% of the total value at risk associated with cash suppression, highlighting the significant financial impact of insider fraud within the banking sector.

The Bank of Ghana further disclosed that the sharp increase in the value at risk from cash suppression was largely driven by one outlier case involving GH¢36 million.

The regulator said the figures demonstrate that while financial institutions have made progress in reducing employee involvement in fraud, insider-related financial crime continues to pose a major risk because of the high values involved.

It stressed that addressing fraud requires stronger collaboration among all stakeholders in the financial ecosystem.

"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)."

It added that the continued growth of digital financial services makes it imperative for financial institutions to strengthen their internal controls and fraud prevention systems.

"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 Bank of Ghana reaffirmed its commitment to strengthening regulatory oversight, enhancing supervision and supporting fraud prevention initiatives to ensure a resilient and secure financial sector.