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Description

Ghana is one of the most prosperous countries on the African continent, thanks to its large pool of natural resources and its relatively stable economy and political framework. Due to this, the country is generally perceived as being moderately safe, and according to international and national agencies such as the Financial Action Task Force (FATF) and the US Department of State, it is making considerable progress in terms of its anti-money laundering and counter-terrorism financing (AML/CTF) legal and institutional framework. However, Ghana is also exposed to a wide range of money laundering and terrorist financing risks (ML/TF) that stem from its geographical location in an unstable region, its predominantly cash-based economy, and its relatively large informal sector.

This report looks at Ghana’s legal and regulatory approach to financial crime and the nature of financial crime risks that arise from the diversity and maturity of its financial sector.