Remittances in Ghana to be linked to biometric information on the Ghana Card, the Ministry of Finance announces

Monday 21 June 2021 11:03 CET | News

Ghana’s Ministry of Finance has announced that all remittances will be linked to the biometric information on the recipients’ Ghana Card, in a bid to prevent fraudulent account transactions.

Currently, certain processes have been started for the replacement of ID numbers such as Tax Identification Numbers and Social Security Numbers with Ghana Card numbers. These will be used as universal ID cards in the country.

Furthermore, the linkage of accounts with the biometric information will be augmented by the development of consumer protection regulations, particularly in the areas of disclosure for both inward and outbound remittances.

According to the Ministry, improvements in access to remittance services, particularly in rural and remote areas, by encouraging the participation of microfinance institution, credit unions, and saving banks (including postal saving schemes) in the remittance market, remains a key goal.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: remittances, biometrics, fraud prevention
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Ghana
This article is part of category

Securing Transactions

Industry Events