Only 75 employees of banks and specialised deposit-taking institutions (SDIs) were dismissed for fraud-related offences in 2025, despite 219 staff being implicated in fraudulent activities, according to the Bank of Ghana's 2025 Fraud Report.

The report shows that the 75 dismissals represented just 34% of all employees implicated in fraud during the year. It also marks a 52% decline from the 155 staff dismissed in 2024.

Of those dismissed, 44 employees, representing 59%, were linked to cash theft and cash suppression.

Overall, employee involvement in fraud declined significantly in 2025. The number of staff implicated fell from 365 in 2024 to 219 in 2025, representing a 40% reduction. Cash theft and cash suppression remained the most common staff-related fraud, accounting for 139 of the 219 cases, or 63%, down from 75% in the previous year.

Despite accounting for only 22% of all cash suppression cases recorded across banks and SDIs, banks represented approximately GH¢40.7 million, or 96% of the total value at risk associated with cash suppression. The Bank of Ghana attributed the sharp increase largely to a single outlier case involving GH¢36 million.

The Central Bank said the figures indicate that although financial institutions have made progress in reducing employee involvement in fraud, insider-related financial crime remains a significant threat because of the high financial values involved.

It urged stronger collaboration among financial institutions, law enforcement agencies, regulators and the public to combat fraud more effectively.

"Effectively addressing fraud within Ghana's financial sector demands a unified and sustained effort from all stakeholders (financial institutions, law enforcement agencies, regulatory bodies, and the public)," the report stated.

The Bank of Ghana also stressed that the continued expansion of digital financial services requires stronger internal controls and fraud prevention systems to address evolving risks, reaffirming its commitment to strengthening regulatory oversight and supervision.