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47 people and 245 corporate organizations have been sanctioned by the Bank of Ghana for writing counterfeit cheques.
The BoG claimed in a statement on August 6, 2024, that the people and organizations in question had breached a notification that had been released in March 2021.
“The affected bank customers issued dud cheques on at least three occasions between January 2022 and January 2024, despite warnings about the consequences of their actions”.
It stated, “The offenders are accordingly banned from issuing cheques in Ghana for three years, effective June 28, 2024,” and that they would also be precluded from obtaining new credit facilities from the banking system for a period of three years, starting on June 28, 2024.
According to the statement, any legal action that may be taken against the offenders in accordance with Ghana’s criminal code is unaffected by the punishments mentioned above.
The BoG claims that banks and Specialized Deposit-Taking Institutions (SDIs) whose clients are implicated have been instructed to remind the offenders of the prohibition and to take back any cheque books that have not been used.
“They shall not issue new cheque books to the affected customers until the sanctions are lifted. The public is by this Notice, cautioned to desist from issuing dud cheques as the offence has both legal and regulatory consequences. Bank of Ghana will continue to monitor the payment system space closely and is committed to the promotion of the integrity and soundness of the financial system”, the statement concluded.
Read the full statement below:
Source: Ghanatodayonline.com
