The Bank of Ghana (BoG) has come out with three provisions one must make available before he/she deposit money into and/or withdraw from accounts that are not theirs at banks or specialized deposit-taking institutions.
The Central bank in a notice signed by Secretary Frances Van-Hein Sackey said persons who wish to conduct such a transaction must provide their “name and address, a verifiable identification card and a telephone number to the requisite bank or specialized deposit-taking institution.”
It said the directive was in compliance with section 23 of the Anti-Money Laundering Act, 2008 (Act 749), as amended.
The Act seeks to shine transparency on persons engaging in financial transactions in a bid to stem money laundering.
It said “in accordance with section 23(7) of the Anti-Money Laundering Act 2008, (Act 749) as amended, all banks and specialized deposit-taking institutions shall require the full personal details of a person who makes a deposit into or withdrawal from an account on behalf of another person.
“Banks and specialized deposit-taking institutions and the general public are to take note and be guided accordingly,” it said.