219 Bank Workers Caught in Fraud Cases Despite 40% Drop
The number of bank and specialised deposit-taking institution (SDI) employees implicated in fraudulent activities declined significantly in 2025, falling by 40 per cent, even as cash theft and suppression remained the dominant forms of staff-related fraud.
The Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) 2025 Fraud Report revealed that staff involvement in fraud reduced from 365 cases in 2024 to 219 cases in 2025, representing a decline of 146 cases.
According to the report, the reduction reflects improved internal controls and monitoring mechanisms within financial institutions, although employee-related fraud continues to pose a major operational risk to the banking sector.
Of the 219 staff members involved in fraudulent activities in 2025, 139 employees, representing 63 per cent, were linked to cash theft and cash suppression.
This represents a decline from the previous year, when 274 employees, accounting for 75 per cent of staff-related fraud cases, were involved in cash theft and cash suppression.
The report identified cash suppression as the leading fraud category involving employees across banks and SDIs.
Out of the 139 cash suppression cases recorded in 2025, only 22 per cent occurred in banks. However, the financial impact was significantly higher within banks, with approximately GH¢40.7 million, representing 96 per cent of the total value at risk, recorded in the banking sector.
The report noted that cash suppression losses within the broader financial sector increased by 12 per cent, rising from GH¢1.6 million in 2024 to GH¢1.7 million in 2025.
Within the SDI sector, Rural and Community Banks (RCBs) accounted for 90 per cent of cash suppression cases, highlighting continued vulnerabilities in internal controls among smaller financial institutions.
Despite the number of employees involved in fraud, the report showed a reduction in disciplinary actions taken by banks and SDIs.
Financial institutions dismissed 75 staff members in 2025, representing a 52 per cent decline compared with the 155 employees dismissed in 2024.
However, the dismissals accounted for only 34 per cent of the 219 employees implicated in fraudulent activities during the year.
Among those dismissed, 44 employees, representing 59 per cent, were linked to cash theft-related offences.
The figures suggest that while fewer employees were involved in fraud, financial institutions continue to face challenges in ensuring swift disciplinary action against individuals found culpable.
Although staff involvement in fraud declined overall, the report highlighted growing concerns over other fraud categories affecting financial institutions.
Forgery and manipulation of documents recorded the highest value at risk among fraud categories in 2025, reaching GH¢4.2 million, compared with just GH¢10,000 in 2024.
A single financial institution accounted for approximately GH¢4.1 million of the reported value at risk.
The report also recorded an increase in burglary-related losses, which rose from GH¢730,000 in 2024 to GH¢1.18 million in 2025.
The report stressed the need for banks and SDIs to continue strengthening internal governance systems, employee monitoring mechanisms and fraud prevention strategies.
While the decline in staff-related fraud represents progress, the persistence of cash theft, cash suppression and other internal fraud risks shows the need for continuous investment in staff training, ethical compliance programmes and stronger accountability frameworks.
The findings indicate that Ghana's financial sector is making progress in reducing employee-driven fraud, but institutions must remain vigilant as fraud schemes continue to evolve.
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