Anti-Money Laundering Regulations, 2008 🇬🇭

Ghana

L.I. 1925

Anti-Money Laundering Regulations, 2008

Published in Government Gazette on 8 February 2008
Commenced on 8 February 2008
[This is the version of this document from 8 February 2008.]

IN exercise of the powers conferred on the Minister for Finance and Economic Planning by section 51 of the Anti-Money Laundering Act, 2008 (Act 749) these Regulations are hereby made.

Internal rules

1. General internal rules

(1)Each accountable institution shall implement internal rules and other procedures to combat money laundering and terrorist financing.

(2)The internal rules shall include

(a)programmes to assess the risk related to money laundering and terrorist financing;

(b)the formulation of control policy concerned with issues of

(i)timing,

(ii)degree of control,

(iii)areas to be controlled,

(iv)responsibilities,

(v)follow ups, and

(vi)administrative penalties

to combat money laundering and terrorist financing;

(c)monitoring policy programmes related to suspicious or unusually large transactions;

(d)enhanced…

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