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Gunmen in Nigeria have freed a number of pupils who were kidnapped from an Islamic school in May, according to...

The Ghana Education Service (GES) claims that the pre-tertiary teacher unions have no justification for going on strike. The Ghana...

Players from Tanzania's national women’s football team - known as the Twiga Stars - have said that President Samia Suluhu's...

The Bank of Ghana (BoG) has won a $478 million international arbitration award against Sibton Switch Limited. The lawsuit before...

According to the Bank of Ghana (BoG), by 2020, many regular institutional operations, including financial transactions, that would normally have been carried out in person, were being carried out online. Customers who were not accustomed to using digital/electronic means of conducting financial transactions were forced to utilize them,  according to the central bank. As a result of the increasing consumption of electronic/digital goods and services, certain segments of the banking industry were exposed to higher levels of fraud risk. The development of the COVID19 epidemic accelerated the adoption of digital/electronic means of conducting business, increasing the risk of fraud. In the year 2020, there was a slight rise in reported fraud occurrences with a slight reduction in losses. The decrease in losses was mostly attributable to a decrease in the rate of success for the majority of fraud categories. There were a total of 2,670 cases recorded in the year 2020,  as compared to 2,311cases in 2019. “The reported value of fraud in 2020 was GH1.0 billion, compared to GH115.51 million in 2019,” the bank said. The significant rise in reported value was due to high amounts recorded in attempted correspondent banking fraud (forgery of SWIFT advice). Even while none of the correspondent banking fraud efforts resulted in losses for the banking industry, they did represent a reputational cost to certain institutions, whose employees were determined to be guilty in two of the three recorded instances. Losses sustained as a consequence of fraud in 2020 are projected to be GH25.40 million, a 24 percent reduction from an estimated loss of  GH33.44 million in 2019. The COVID19 epidemic led to a significant increase in the usage of digital/electronic platforms for financial transactions. In order to limit the virus's transmission, financial institutions urged clients to use the numerous digital goods and services available to complete financial transactions. The rise in use resulted in an increase in the occurrence of...

The Vice President, Dr. Mahamudu Bawumia, has started the Revenue Assurance and Compliance Enforcement (RACE) program, as pledged in the...

The acting Director-General of the Public Affairs Directorate of the Ghana Police Service, Assistant Commissioner of Police (ACP) Kwesi Ofori has...

CyberGhana has inaugurated a Cybersecurity Club at the St. Augustine's College in Cape Coast with a call on stakeholders to...

Electronics giant Samsung has "blocked" TVs that were stolen in South Africa during the unrest in July, rendering them unusable....

Zambia’s new President Hakainde Hichilema will not move from his private residence to State House, reports the state-owned Zambia Daily...