Bank of Ghana warns against third-party use of bank accounts due to money laundering and terrorist financing risks.
Bank of Ghana warns against allowing third parties to use bank accounts for transactions, citing risks of unwittingly participating in money laundering or terrorist financing, both punishable by law. The central bank describes money laundering as a process where unlawful funds are legitimized through complex transactions to hide their criminal origins. The BoG advises the public to exercise caution and be ready to explain the source of their wealth.
April 08, 2024
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