Regulatory Alerts2022-12-23
Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT&P) Guideline for Accountable Institutions
The Bank of Ghana and the Financial Intelligence Centre issued this guideline to establish a comprehensive, risk-based compliance framework for accountable institutions. It mandates robust customer due diligence, transaction monitoring, suspicious activity reporting, and strengthened governance structures aligned with Act 1044 and FATF standards. Institutions must conduct gap analyses, implement updated policies, and face administrative sanctions for non-compliance to effectively mitigate financial, reputational, and economic risks.
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