nametelephone numberfax numberaddressdate of birthplace of birthnationalityhome townoccupationemployers nameidentity documentsother namelocation of clientnature of business relationshipsignature
nameother namelocation of clienttelephone numberfax numberaddressdate of birthplace of birthnationalityhometownoccupationemployer's nameidentity documentsnature of business relationshipsignature
registered namelocation addresshead officemailing addresscontact numberscertified copy of regulationscertificate of business registrationcommencement of businesscopy of latest auditors reportlocation, mailing addresses of directors
Electronic Transactions Act 2008
2008. The Anti-Money Laundering Act of 2008 (Act 749), and the Anti-Money Laundering Regulations 2008 (LI 1925)
No, however banks are encouraged to ensure that due diligence on customers is a continuous exercise.
In Oct 2012, Ghana was removed from the Financial Action Task Force (FATF) blacklist.
Yes, the equivalent of USD10,000.
Individuals: Information required for individuals includes: legal name and other names, location of client, telephone, fax numbers, mailing address, date and place of birth, nationality, hometown, occupation, position held and employer's name, identity documents, nature of the business relationship and signature.
Require a registered name, location address, head office, mailing address, contact phone and fax numbers, original or certified copy of regulations, certificate of business registration and
commencement of business, copy of latest auditor's report and accounts, annual report filed with the Registrar General and names, location and mailing addresses of directors.
When one person is acting on behalf of another, the obligation is to obtain sufficient evidence of the identities of the two persons involved. In consortium lending, the lead manager/agent shall supply a confirmation letter as evidence that he has obtained the required identity.
Enhanced customer due diligence is required when dealing with PEPs.
Additional due diligence is required for PEPs. Senior management approval must be sought before establishing a relationship with such a person. It is also a requirement to establish the PEP’s source of
wealth/source of funds and the beneficial owners.
If the broker or other introducer is a regulated person or institution (including an overseas branch or subsidiary) from a country with equivalent legislation and financial sector procedures, and the broker or introducer is subject to anti-money laundering rules or regulations, then a written assurance can be taken from the broker that he/she has obtained and recorded evidence of identity of any principal and underlying beneficial owner that is introduced.
The specific requirements are in process of being formalised by the Bank of Ghana
Financial Intelligence Centre
Yes, reporting should not be limited to Suspicious Transaction Reports (“STRs”) alone.
The Act requires the bank to report such acts to the Financial Intelligence Centre, Bank of Ghana and their External Auditors.
as soon as a transaction is noted;
Financial Intelligence Centre primarily;
this is reported in the “long form” report to the Bank of Ghana.
a) the External Auditors are required to review the “Accounts Opening Procedures” used by the bank; b) all reports sent to the Financial Intelligence Centre are reviewed; c) yes.
Yes. They can only be obtained by a court order.
The Ghana Card is a national identity card that is issued by the Ghanaian authorities to Ghanaian citizens
Banks were to comply with the Bank of Ghana and/or parent bank’s KYC policies/procedures. No financial intelligence centre reporting requirements. Bank of Ghana Supervision Department (and also security agencies and Serious Fraud Office) played the quasi-role of a centre investigating “suspicious” transactions.
Identity shall be verified whenever a business relationship is to be established, on account opening or during one-off transaction or when series of linked transactions take place.