On February 28, 2025, the Bank of Ghana (BoG) and the Financial Intelligence Centre (FIC) introduced new guidelines to enhance compliance and reduce financial crime risks in the operations of Foreign Exchange Bureaux.
Forex bureaux are now mandated to establish a robust AML/CFT&P programme, which includes:
- Developing a comprehensive AML/CFT&P policy.
- Establishing a governance framework that promotes a culture of compliance.
- Appointing a dedicated Anti-Money Laundering Reporting Officer (AMLRO).
- Implementing internal controls and conducting regular testing to ensure the effectiveness of the AML/CFT&P programme.
