The Bank of Ghana (BoG) has directed banks and all specialized deposit-taking institutions to ensure that people who deposit money into and/or withdraw same from accounts that are not theirs provide their “full personal details” to the transacting institution.
In a notice published, the Bank of Ghana said such persons must provide their “name and address, a verifiable identification card and a telephone number to the requisite bank or specialized deposit-taking institution.”
It said the directive was in compliance with the section 23 of the Anti-Money Laundering Act, 2008 (Act 749), as amended.
The Act seeks to shine transparency on persons engaging in financial transactions in a bid to stem money laundering.
The notice was signed by the Secretary of Bank of Ghana, Frances Van-Hein Sackey.
It said “in accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended, all banks and specialised deposit-taking institutions shall require the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person.
“Banks and specialised deposit-taking institutions and the general public are to take note and be guided accordingly,” it said.
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NOTICE TO BANKS, SPECIALISED DEPOSIT-TAKING INSTITUTIONS AND THE GENERAL PUBLIC
NOTICE NO. BG/GOV/SEC/2019/15
ENFORCEMENT OF THIRD PARTY IDENTIFICATION INVOLVING DEPOSITS AND WITHDRAWALS
Pursuant to section 23 of the Anti-Money Laundering Act, 2008 (Act 749) as amended the Bank of Ghana hereby issues this notice for the information of all Banks and Specialized Deposit-Taking Institutions and the General Public. All Banks, Specialized Deposit-Taking Institutions and the General Public are to note the following:
- In accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended, all Banks and Specialized Deposit-Taking Institutions shall require the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person.
2. Pursuant to the above, all third parties making deposits into or withdrawals from an account other than their own, shall provide the following information:
a. Name and address of the third party;
b. A verifiable identification card and
c. A telephone number of the third party to the requisite bank or specialized deposit-Taking institution.
Banks, Specialized Deposit-Taking institutions and the general public are to take note and be guided accordingly.
(Sgd.)
FRANCES VAN-HEIN SACKEY (MRS.)
THE SECRETARY
4TH SEPTEMBER, 2019
