Enforce 3rd party deposit, withdrawal rules – BoG to banks

Business

BoG

The Bank of Ghana (BoG) has issued a notice to all Banks and Specialised Deposit-Taking Institutions to take down the full personal details of persons who make deposits or withdrawals from an account on behalf of another person.

The directive is in accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended.

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

This was contained in a statement from the central bank.

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