With the festive season fast approaching, the Ghana Police Service has suspended all leave for its officers, signaling a major security clampdown under Operation Disaster‑Free Christmas. Inspector General of Police, COP Christian Tetteh Yohuno, warned that the move is necessary to combat the expected surge in crime, with Jamestown District Commander Superintendent William Abisah confirming: “The IGP has banned leave for all police officers … we are preparing seriously for Christmas.” With heightened commercial activity, crowded streets, and more cash in circulation, many are saying that this year, ‘Detty December is really getting detty’.
Previous data from the Bank of Ghana’s Banks, SDIs & PSPs Fraud Report show that December has become a particularly risky month for financial crime. In its 2023 report, BoG notes that “the month of December 2023 saw the highest loss value for the year … which may be characterized by the uptick in activities during the festive season, presenting opportunities for fraudsters to perpetuate their schemes.” The 2024 report reinforces this trend, highlighting December as a recurring period of heightened risk, when the surge in transactions and cash flow exposes both businesses and consumers to greater fraud threats.
The BoG data also show that the financial system lost GH¢ 88 million to fraud in 2023, encompassing banks, specialized deposit‑taking institutions (SDIs), and payment service providers (PSPs). Despite a slight drop in new fraud cases in 2024, BoG warns that the “value at risk” increased to around GH¢ 99 million, a 13 percent rise.
In 2023, BoG identified cash theft, or “cash suppression,” as the costliest fraud among banks, accounting for GH¢ 14.8 million in losses. That was followed by cyber/email fraud (GH¢ 10.5 million), fraudulent withdrawals, cheque fraud, and forgery or document manipulation. On the PSP side, including mobile money platforms, BoG recorded 14,655 fraud cases in 2023, resulting in about GH¢ 16 million lost.
The 2024 report shows a troubling shift in fraud patterns. Forgery and document manipulation surged dramatically, rising to GH¢ 53.5 million, largely driven by a single large case. Identity theft also rose sharply, climbing from about GH¢ 0.6 million in 2023 to GH¢ 5.7 million in 2024. Meanwhile, although cash‑suppression cases dropped, BoG warns that recovering losses remains difficult because of lengthy legal processes.
These evolving fraud risks are not confined to financial institutions. Businesses in sectors such as travel, tourism, and document‑based services could be particularly exposed: manipulated or forged documents may be used in fraudulent travel bookings, identity theft, or large-sum transactions. Retailers, e‑commerce platforms, and mobile‑money operators also face pressure to tighten their verification processes and fraud monitoring systems.
Underlying these financial risks is a well-documented pattern of physical crime escalation during the festive period. Academic research indicates that robbery rates consistently peak in December, especially in densely populated and economically active areas, precisely when cash and consumer spending surge. Experts say the convergence of high transaction volumes, increased foot traffic, and year-end social activity emboldens criminals and increases vulnerability.
For businesses, the combined threats of electronic fraud and physical crime demand a proactive strategy: strengthening internal controls, reinforcing identity verification, and collaborating more closely with law enforcement. Consumers, too, must stay vigilant, verifying merchants, limiting cash exposure, and monitoring financial accounts especially closely during December.
