…To eliminate banking sector fraud
The Bank of Ghana (BoG), has issued a firm directive against photocopying Ghana Cards for banking transactions, emphasising that biometric verification, must be the standard for identity authentication.
This position was reinforced during a stakeholder engagement held at the Kempinski Hotel Gold Coast City, Accra, organised by Identity Management Systems II (IMS II) Ltd in collaboration with the National Identification Authority (NIA).
The event, themed “Protect Every Transaction with Biometric Verification,” brought together the BoG, the Ghana Association of Banks, the NIA, and representatives from the 25 universal banks operating in the country to discuss the critical role of identity verification in securing financial transactions.
Executive Director of IMS II Ltd, James Cantamantu-Koomson, highlighted the fundamental shift in identity management, stating, “The way we do things is changing. Identity is at the centre and the engine of our financial system. The database that the National Identification Authority has gathered is one of the most powerful assets we have as a country.”
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His remarks underscored the need to transition from traditional manual processes to a multi-modal biometric verification approach that eliminates security vulnerabilities.
The BoG, made it clear that photocopying Ghana Cards for customer verification, is not an acceptable practice.
Ashitei Trebi-Ollennu, Deputy Head of Office under the Financial Integrity Office of the BoG, emphasised, “We have never said that banks should photocopy Ghana Cards. Photocopying leaves room for fraud and compromises the integrity of transactions.”
Instead, banks must authenticate identities directly through the biometric verification system linked to the National Identification database, ensuring a secure and reliable financial ecosystem.
The engagement encouraged constructive dialogue among the Bank of Ghana, the Association of Banks, the NIA, and representatives from all universal banks. Banks provided valuable feedback on how the exchange of information could be enhanced to streamline verification processes and improve efficiency.
The NIA, also re-emphasised its legal mandate, with the Head of the Legal Directorate, Teresa Eson-Benjamin, stressing the law that establishes the Ghana Card as the sole form of identification for banking transactions. This clarification was crucial in ensuring that all financial institutions fully align with the legal framework governing identity verification in Ghana.
The discussions highlighted the importance of biometric verification as the most secure form of authentication, eliminating fraudulent activities associated with photocopied Ghana Cards. The event called for financial institutions to fully transition to biometric-based verification, ensuring that Ghana’s financial sector remains robust, fraud-proof, and aligned with international best practices.
Key figures such as, Mr John Awuah, CEO of the Ghana Association of Banks (GAB), Audrey Mireku, Banking Operations, Risk & Cybersecurity, Mr Trebi-Ollennu, Deputy Head of Office under the Financial Integrity Office of the BoG, and Ms Naa Welbeck, Head of Supervision Unit under the Financial Integrity Office of the Bank of Ghana, attended the engagement, alongside legal, technology, and biometric experts from the NIA.
Also present, were executives from all 25 universal banks in Ghana.
By the end of the engagement, a clear consensus had emerged: “Trust but verify” must be the guiding principle in Ghana’s financial sector. The commitment to biometric authentication will safeguard transactions and bolster Ghana’s standing as a leader in secure digital identity verification.
