GAB Reports 5% Fraud Recovery Rate; Stanbic Supports Child Foundation

The Ghana Association of Banks (GAB) reported that financial institutions recover only 5% of funds lost to fraudulent activities, highlighting a significant challenge in the banking sector.

Stanbic Bank Ghana's Internal Control Unit has provided equipment and financial assistance to the Weep Not Child Foundation at Ahwerease-Darmang, near Nsawam, to enhance its operations and support for children in its care.

Ebenezer Ghanney, CEO of WeWire, recommended that the Bank of Ghana focus on tokenising government securities rather than other assets like gold, as a way to unlock the nation's digital asset potential.

OmniBSIC Bank was recently recognized as the Marketing-Oriented Bank of the Year at the 37th Chartered Institute of Marketing, Ghana (CIMG) National Marketing Performance Awards.