It is an offence punishable by a fine and/or imprisonment of up to five years to issue a dud cheque, the Bank of Ghana has warned the general public.

The central bank said in its financial literacy education series that people must always ensure there is enough funds in their account before issuing a cheque.

“If you issue a dud cheque for the first time, your financial institution will warn you and also report the offence to the credit reference bureau”, the BoG said.

“Your financial institution shall place you under surveillance for a minimum period of three years when you issue a dud cheque for the first time.

“If you issue a dud cheque for the second time within three years of the first offence, your financial institution shall report your conduct to the Bank of Ghana. Your details and the breach shall be recorded in a dud cheque register maintained at the BoG.

“If you issue a dud cheque for a third time within three years, you’ll be banned from issuing cheques within the country for a minimum period of three years.

“You shall be banned from accessing new credit facilities from all financial institutions for a period of three years if you issue a dud cheque for the third time within three years.

“Your name shall be published in two daily newspapers of national circulation if you issue a dud cheque for the third time in three years”, the central bank warned.