BoG Enforces Directive On 3rd Party Deposit

Dr. Ernest Addison

The Bank of Ghana (BoG) has reminded all banks and specialized deposit-taking Institutions in the country to comply fully with the anti-money laundering Act, 2008 (Act 749) by requiring the full personal details of a person who makes a deposit into or withdrawal form an account on behalf of another person.

In a statement issued by its Secretary, Frances Van-Hein Sackey, BoG observed that pursuant to the above, all third parties making deposits into or withdrawals from an account other than their own, shall provide information such as name and address of the third party; a verifiable identification card and 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,” it said.

BY Melvin Tarlue