BoG conducts audit of remittance transactions

 THE Bank of Ghana (BoG) is conducting an audit of remittance transactions covering the period

 October 1, 2024 to December 31, 2024.

The objective of this audit is to assess the remittance process and to provide recommendations to strengthen the existing regula­tory framework.

A statement issued by the Bank of Ghana, signed by the Secretary, Sandra Thompson, and copied to the Ghanaian Times in Accra yesterday, said the

 audit would evaluate compliance with all applicable regulations, including the Foreign Exchange Act 2006, Act (723), the Updated Guidelines for Remittances, the Payment Services Act 2019 (Act 987), and the Anti-Money Laun­dering/Combating the Financ­ing of Terrorism (AML/CFT) Guidelines