BoG directs banks to demand ID cards from third parties for deposits, withdrawals

The Bank of Ghana has served notice it is strictly enforcing the third party identification involving deposits and withdrawals.

In a notice to banks, specialized deposit-taking institutions and the general public, the BoG said all financial institutions must take the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person.

Also, all third parties making deposits into or withdrawals from an account other than their own, must provide the Name and address of the third party, A verifiable identification card and  A telephone number of the third party to the requisite bank or specialized deposit-Taking institution.

The regulator says this is in accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749).