Tuesday, 25 February

IDs, addresses needed for third-party deposits, withdrawals – BoG


Pursuant to section 23 of the Anti-Money Laundering Act, 2008 (Act 749), as amended, the Bank of Ghana has issued a notice informing all banks and specialised deposit-taking institutions and the general public to ensure that they demand identification details of all third-parties who make deposits and withdrawals.

A statement signed by the central bank’s Secretary, Mrs Frances Van-Hein Sackey, 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”.

The statement added: “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 specialised deposit-taking institution”.

The central banks said all banks and specialised deposit-taking institutions, as well as the general public, “are to take note and be guided accordingly”.



Source: classfmonline.com