Ghana Banks Introduce New Cash Limitation Policy

The President of the Ghana Association of Bankers (GAB), Asare Akuffo, announced new measures that will limit third party cash withdrawals to GH10,000, reported All Africa. The cash limitation represents an effort to prevent and decrease financial fraud and money laundering problems in Ghana.

Akuffo explained that Ghana banks are more susceptible for fraud when large amounts of money are exposed during over-the-counter transactions. The president is strongly urging banks in Ghana to adhere to the new policy to help protect banks and customers from potential fraud attacks.

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