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Sanctions for the Issuance of Dud Cheques, 2021 🇬🇭

Ghana
Coat of Arms
Republic of Ghana


The bg-gov-sec-2021-03

notice

of the parliament of the republic of ghana
entitled

Sanctions for the Issuance of Dud Cheques, 2021

  • Commenced on 11 March 2021
Banks, Specialised Deposit-Taking Institutions (SDIs) and the Public are reminded that under section 313(A) of the Criminal Offences Act, 1960 (Act 29) as amended, it is an offence punishable by a fine and/or imprisonment of up to five (5) years for any person to issue a dud cheque1.1For the purposes of this notice, a dud cheque is a cheque drawn on a bank or SDI by a customer for which there are inadequate or insufficient funds in the account of the customer to pay the amount specified on the cheque within the normal course of banking business.To further discourage the issuance of dud cheques, the Bank of Ghana (BoG) introduced additional measures through notice number BG/GOV/SEC/2005/5. In spite of the above, BoG has observed with grave concern, the high issuance of dud cheques by some customers of banks and SDIs. Th…

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