Regulatory Alerts2020-06-22
Banking and Financial Laws 2006-2008
The Parliament of Ghana enacted this compilation to consolidate key banking and financial legislation from 2006 to 2008, with the Anti-Money Laundering Act establishing a Financial Intelligence Centre to combat illicit fund flows. The legislation mandates accountable institutions and gaming operators to verify client identities, maintain detailed transaction records for at least six years, and submit suspicious transaction reports within twenty-four hours. It further outlines compliance obligations, imposes criminal penalties for non-compliance, and grants the Centre authority to monitor institutions, freeze accounts, and exchange information with domestic and international regulatory bodies.
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