{"id":110715,"date":"2026-01-11T15:58:59","date_gmt":"2026-01-11T15:58:59","guid":{"rendered":"https:\/\/sotnews.agency\/?p=110715"},"modified":"2026-01-11T15:58:59","modified_gmt":"2026-01-11T15:58:59","slug":"bog-issues-aml-cft-cpf-agency-banking-guidelines-for-banks-others","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=110715","title":{"rendered":"BoG issues AML\/CFT\/CPF agency banking guidelines for banks, others"},"content":{"rendered":"
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The Bank of Ghana has issued the Anti-Money Laundering, Combating the Financing of Terrorism & Combating the Proliferation Financing of Weapons of Mass Destruction (AML\/CFT\/CPF) Agency Banking Guidelines.<\/p>\n

The guidelines is issued pursuant to section 101(2)(j) of the Payment Systems and Services Act, 2019 (Act 987) and section 52(5)(e)(i) of the Anti-Money Laundering Act, 2020 (Act 1044).<\/p>\n

The guidelines which take immediate effect shall apply to Banks, Specialised Deposit-Taking Institutions, Electronic Money Issuers and Payment Service Providers and any other institution licensed by the Bank of Ghana to undertake agency banking activities.<\/p>\n

The objectives of this guideline are to assist principals to develop and implement effective risk-based AML\/CFT\/CPF compliance programmes; and ensure that the agent(s) understand and comply with AML\/CFT\/CPF laws and regulatory requirements.<\/p>\n

The Guideline is structured under corporate governance, Known Your Customer, among others.<\/p>\n

For corporate governance, the Board and Management of a principal shall be responsible for the AML\/CFT\/CPF enforcement and compliance of its agent(s).<\/p>\n

The Board shall also approve the risk assessment of agency banking, as prepared by the Management of a Principal and document same. The assessment shall be updated through a periodic review within a two-year cycle or in the event of a significant occurrence.<\/p>\n

For KYC, a principal shall ensure that its agent(s) always complies with KYC\/CDD\/EDD policies and procedures.<\/p>\n<\/div>\n

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\"BoGThe objectives of this guideline are to assist principals to develop and implement effective risk-based AML\/CFT\/CPF compliance programmes; and ensure that the agent(s) understand and comply with AML\/CFT\/CPF laws and regulatory requirements.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6929,15196,1904,2367,12,2024,10,9],"tags":[],"class_list":["post-110715","post","type-post","status-publish","format-standard","hentry","category-agency-banking","category-aml-cft-cpf","category-banking-and-finance","category-bog","category-business","category-hp-business-3","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/110715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=110715"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/110715\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=110715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=110715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=110715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}