Ghana’s financial sector recorded a marginal increase in fraud exposure in 2025 as growing digital payment activity pushed up risks across banks, specialised deposit-taking institutions (SDIs), and payment service providers (PSPs).
The Bank of Ghana’s 2025 Fraud Report showed that the total value at risk from reported fraud cases increased to GH¢101 million in 2025, from GH¢99 million in 2024, representing a 2% rise. However, the number of reported fraud cases recorded a much sharper increase, rising by 48% from 16,733 cases in 2024 to 24,778 cases in 2025.
The increase in cases was mainly linked to the payment service provider sector, where fraud incidents continued to grow alongside the expansion of digital financial services.
PSPs recorded 24,124 fraud cases in 2025, compared with 15,673 cases in 2024, representing a 54% increase. The value at risk within the sector also increased significantly, rising from GH¢19 million to GH¢37 million during the period.
The figures highlight the growing pressure on Ghana’s digital finance ecosystem as more individuals and businesses rely on electronic payment channels for everyday transactions.
While the PSP sector recorded the largest increase, traditional banks experienced a decline in both fraud cases and financial exposure. Banks reported 472 fraud cases in 2025, down from 716 cases in 2024, representing a 34% reduction. The value at risk also declined by 24% from GH¢75 million to GH¢57 million.
Despite the improvement, the report showed that some fraud categories continued to pose significant risks to banks. Cash suppression emerged as the largest contributor to bank fraud losses, accounting for GH¢40.7 million in 2025.
The Bank of Ghana attributed much of the increase in cash suppression losses to an exceptional case involving GH¢36 million, showing how individual high-value incidents can significantly affect overall fraud exposure.
Specialised deposit-taking institutions recorded a similar decline in fraud cases, falling from 344 cases in 2024 to 182 cases in 2025. However, unlike banks, SDIs experienced a rise in the value of fraud exposure, increasing by 77% to about GH¢8 million. The increase was largely driven by forgery and document manipulation cases.
The contrasting trends across the three sectors show a changing risk environment within Ghana’s financial system. While improved controls appear to have reduced fraud incidents in banks and SDIs, the expansion of digital payment services has created new areas of vulnerability.
The Bank of Ghana said addressing the evolving nature of fraud will require stronger security controls, improved monitoring systems, increased public awareness, and closer collaboration among financial institutions, regulators, law enforcement agencies and customers.
