Government has reaffirmed its commitment to strengthening safeguards against money laundering and terrorist financing as international assessors begin an on-site review of the country’s financial integrity framework, a process closely watched by investors, lenders and development partners.
Speaking in Accra at the start of the mutual evaluation of Ghana’s Anti-Money Laundering (AML), counter-terrorist financing and counter-proliferation financing regime, Deputy Finance Minister Thomas Ampem Nyarko said government views the assessment as a test of implementation and effectiveness rather than a procedural exercise.
Nyarko said Ghana has used its national risk assessment to drive reforms across financial institutions, regulators and law enforcement agencies, prompting policy changes and institutional restructuring aimed at closing gaps in oversight. He pointed to stronger coordination through an inter-ministerial committee and improved independence and analytical capacity at the Financial Intelligence Centre.
According to the deputy minister, regulators, prosecutors and security agencies have increased cooperation and the use of financial intelligence, with greater emphasis on investigations, prosecutions, convictions and asset recovery. He said the reforms reflect a shift in how authorities view financial crime risks, framing them as a broader economic and national security concern rather than a narrow compliance issue.
Maintaining a credible AML and counter-terrorist financing framework is critical for Ghana as it seeks to protect its banking system, preserve access to correspondent banking relationships and sustain investor confidence, particularly at a time of tighter global scrutiny of cross-border financial flows.
Nyarko acknowledged that challenges remain and said the government does not regard the evaluation as a one-off test. He described the process as an opportunity to refine Ghana’s systems and align more closely with international standards, adding that the country remains exposed to evolving risks common to emerging and frontier markets.
The on-site review is being conducted as part of Ghana’s engagement with the Inter-Governmental Action Group against Money Laundering in West Africa and the wider global AML community. Authorities say the outcome will shape further reforms and enforcement priorities, with implications for financial institutions, designated non-financial businesses and the broader investment climate.
