The banking sector in Ghana recorded nearly 2998 cases of attempted fraud in 2022.

These scams are up 27.74% year over year. The falsification of documents, which cost nearly 33 million cedis, was the most important fraud. Fraudulent withdrawals of money from customer bank accounts increased by 1726% in 2022. 2998 cases of attempted fraud were recorded in the banking sector and that of institutions specializing in deposit collection (SDI) in Ghana in 2022, according to a report published on June 15 by the country's Central Bank. The document, which is based on declarations submitted by banks, indicates that these frauds increased by 27.74%, year-on-year. They caused losses worth a total of approximately 56 million cedis ($5.1 million

In detail, the falsification and manipulation of documents was the most significant fraud, costing the entire Ghanaian banking sector nearly 33 million cedis. Of this amount, commercial banks recorded a loss of 32 million cedis. Another type of fraud, namely fraudulent withdrawals of money from customer accounts, caused losses of 7 million cedis to the banking sector. In this category, we went from 19 cases in 2021 to 347 cases in 2022, an increase of 1726% in one year, which makes it the most important fraud, in terms of percentage change

Cash theft was the most recorded type of fraud, mainly in the rural and community banking sector. Another emerging fraud typology also recorded a number of cases in 2022. This is identity theft, which increased from 20 cases in 2021 to 285 cases in 2022, an increase of 1325% year-on-year. Cheque fraud represented a loss of 5 million Ghanaian cedis. Two other types of fraud, namely cyber email and cash theft, also affected the entire Ghanaian banking sector in 2022