Tag: e-Crime bureau
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Banks must improve their systems to check rising spate of financial fraud – e-Crime Bureau
Cyber security firm, e-Crime Bureau is encouraging businesses in the financial sector to beef up their security and ensure they safeguard their systems to mitigate the occurrence of fraud. This follows a recent report by the bank of Ghana which indicated an increase in fraud-related losses by Banks and specialized deposit taking institutions in Ghana…
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Invest in effective systems to detect fake currencies – E-crime Bureau to businesses
Cyber Security firm, E-crime Bureau has charged the over 200,000 mobile money agents across the country and businesses to invest in tools and systems such as money counting machines to detect fake currencies being introduced into the system by unscrupulous characters. Earlier this month National Security busted a 13-member gang involved in the printing and…
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Passage of Anti-Money Laundering Bill will boost investor confidence – e-Crime Bureau
The passage of the Anti Money Laundering Bill by Parliament will go a long way to boost investor confidence in the country’s financial system. This is according to the Head of Technical Operations at e-Crime Bureau, Eric Kwaku Mensah. The Bill which was on December 17, 2020, when assented to by the President will plug…
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Increase investment in anti-fraud training for financial sector employees – E-Crime Bureau
The Central Bank along with individual financial institutions have been charged to channel more resources into the training of staff to help reduce employee involvement in fraud cases in the banking sector. The latest banking industry fraud report from the Bank of Ghana revealed an alarming rate of involvement of employees of banks in perpetrating…
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Ghana lost US$105 million to cyber-crime in 2018 — CID
Latest figures from the Cyber-Crime Unit of the Criminal Investigations Department of the Ghana Police Service has shown that money lost to cyber fraudsters increased from US$35million in 2016 to US$105million in 2018. Dr. Gustav Yankson, Director of the Cybercrime Unit of the Criminal Investigation Department, Ghana Police Service who revealed this said it added…
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Cyber crime rises but industry recovers GH¢160m in 2017
An estimated 80% of the value of all cyber fraud cases was recovered in 2017, the Bank of Ghana has stated. However, instances of cyber fraud continue to rise as the figure went up by about 42% between 2016 and 2017. The central bank is therefore embarking on new strategies to reduce the crime to…
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Money laundering: BoG places GH¢60,000 fine on banks, others
Banks and Specialised Deposit Taking Institutions (SDIs) that fail to comply with the central bank’s Anti-Money Laundering regulations risk paying as much as sixty thousand cedis (GH¢60,000) in fine beginning this month. This follows the implementation of the Bank of Ghana’s laws on Anti-Money Laundering (AML). The document also comes days after a foiled cyber…