The Bank of Ghana has intensified collaboration with state security agencies to combat financial crime, reinforcing ongoing enforcement efforts against illegal online lending and cyber-enabled financial activities.
Second Deputy Governor Mrs. Matilda Asante-Asiedu, speaking at an inter-agency security engagement at Bank Square on April 15, said “financial system integrity” must be treated as a “national security concern,” stressing the need for stronger institutional coordination to reduce the profitability and operational space of financial crimes.
She highlighted the increasing sophistication of cybercrime and illegal financial operations, noting that intelligence-led enforcement and inter-agency cooperation remain central to mitigating emerging risks within Ghana’s financial ecosystem.
Her remarks follow earlier enforcement actions in Accra targeting illegal online lending operators, which resulted in the arrest of 420 individuals, including three foreign nationals. The operations were carried out through intelligence-led coordination among relevant security agencies.
Asante-Asiedu attributed such outcomes to strengthened collaboration among law enforcement bodies, particularly through the Law Enforcement Coordinating Bureau under the Inter-Ministerial Committee against Money Laundering and Related Crimes, noting that coordinated enforcement is making illicit operations “harder, riskier, and less profitable.”
The Bank of Ghana has, in recent years, tightened oversight of digital financial services amid concerns over consumer protection, data privacy, and the rise of unlicensed fintech and micro-lending platforms.
The engagement reflects a broader shift toward integrated enforcement, combining regulatory supervision with security operations to strengthen financial stability and sustain confidence in the formal financial system.
Delivering remarks on behalf of First Deputy Governor Dr. Zakari Mumuni, Asante-Asiedu said continued collaboration between regulators and security agencies remains critical to protecting the “integrity, stability and resilience” of the financial system.
