BTA Admin Fraud cases across Ghana’s financial sector jumped 48% in 2025, with digital payment platforms accounting for most of the increase, according to the Bank of Ghana’s 2025 Fraud Report, highlighting growing cybersecurity and consumer protection challenges as digital financial services expand.
The report revealed that total reported fraud cases across banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) increased from 16,733 cases in 2024 to 24,778 cases in 2025.
Although the number of incidents rose sharply, the total value at risk increased only marginally from GH¢99 million to GH¢101 million, suggesting that while fraud attempts are becoming more frequent, many involve relatively smaller transactions.
Digital payments become the new fraud hotspot
According to the Bank of Ghana, the rapid growth of digital financial services is fundamentally changing where fraud occurs.
The report found that fraud activity is increasingly shifting away from traditional banks and towards Payment Service Providers, including mobile money and other digital payment platforms.
Fraud cases within the PSP sector nearly doubled during the year, rising 98%, while the value at risk increased 42%.
Electronic fraud incidents alone climbed from 15,673 cases in 2024 to 24,124 cases in 2025, representing a 54% increase.
The value exposed through electronic fraud reached approximately GH¢37 million, almost double the GH¢19 million recorded a year earlier.
The central bank attributed much of the increase to the rapid expansion of digital transactions combined with relatively lower levels of digital literacy among some users.
“The fraud activity has progressively migrated towards the PSP sector, closely correlating with rapid growth in transaction volumes and relatively lower levels of digital literacy among users,” the report noted.
Banks record lower exposure
Unlike the digital payments sector, traditional banks experienced an improvement in overall fraud exposure.
The total value at risk within banks declined 24%, falling from GH¢75 million in 2024 to GH¢57 million in 2025.
However, the report identified cash suppression as the single largest source of financial exposure within banks, accounting for GH¢40.7 million in value at risk.
The unusually high figure was largely driven by one exceptional fraud case involving approximately GH¢36 million.
Specialised Deposit-Taking Institutions also recorded increased exposure, with fraud-related losses rising from about GH¢4.5 million to GH¢8 million, representing a 77% increase.
Forgery and document manipulation accounted for the largest share of fraud within the sector.
Staff involvement declines
The report also indicated improvements in internal fraud controls within regulated financial institutions.
The number of bank and SDI employees implicated in fraudulent activities declined from 365 staff members in 2024 to 219 in 2025, representing a 40% reduction.
Most employee-related fraud cases involved cash theft and cash suppression.
Financial institutions dismissed 75 employees during the year for fraud-related offences, down from 155 dismissals in 2024.
Of those dismissed, 44 employees were linked to cash theft-related misconduct.
Authorities also recovered approximately GH¢3.7 million, reducing the overall fraud value at risk within banks and SDIs to GH¢64.5 million.
Stronger controls needed
The Bank of Ghana warned that fraud risks will continue evolving as financial services become increasingly digital.
The central bank called for stronger collaboration among financial institutions, regulators, law enforcement agencies and consumers to combat increasingly sophisticated fraud schemes.
It said continued investment in cybersecurity, customer education, fraud monitoring systems and stronger regulatory oversight will be essential to maintaining confidence in Ghana’s rapidly expanding digital financial ecosystem.
The Bank of Ghana’s latest fraud report shows that financial crime in Ghana is increasingly moving from traditional banking into digital payment platforms.
While banks appear to be strengthening internal controls, the rapid growth of mobile payments and digital financial services is creating new vulnerabilities that will require stronger cybersecurity, consumer awareness and regulatory oversight to protect Ghana’s evolving financial system.
