The Bank of Ghana has prohibited photocopying Ghana Cards for banking transactions, mandating biometric verification instead. This directive aims to enhance identity security and reduce fraud risks, aligning with the National Identity Register Regulations. Key figures from the banking and identity management sectors convened to discuss these changes and promote advancements in identity verification methods.
The Bank of Ghana (BoG) has issued a strict prohibition against the photocopying of Ghana Cards for banking transactions, stressing that biometric verification should be the standard identity authentication method. This prohibition aligns with the National Identity Register Regulations, 2012, emphasizing the risks associated with outdated verification methods such as visual inspections and lookup lists.
Mr. Ashitei Trebi-Ollennu, the Deputy Head of the Financial Integrity Office at BoG, asserted that, “We have never said that banks should photocopy Ghana Cards. Photocopying creates room for fraud and compromises the integrity of transactions.” He underscored the necessity for banks to verify identities through a biometric system linked to the National Identification database.
This directive was reiterated during a stakeholder engagement in Accra by Identity Management Systems II (IMS II) Ltd. in collaboration with the National Identification Authority (NIA). The event, titled “Protect Every Transaction with Biometric Verification,” gathered representatives from the Bank of Ghana, the Ghana Association of Banks, and all 25 universal banks to discuss the significance of identity verification in securing financial transactions.
Real-time biometric verification mitigates risks such as identity theft, eliminates reliance on easily replicable physical documents, and ensures that authentication occurs in real time with National Identity Register records. It also conforms to both national and global security standards.
James Cantamantu-Koomson, Executive Director of IMS II Ltd, remarked, “The way we do things is changing. Identity is at the centre and the engine of our financial system.” His comments highlighted the essential shift from traditional methods to a robust, multi-modal biometric verification approach that addresses security weaknesses.
The engagement facilitated a constructive dialogue among the Bank of Ghana, the Association of Banks, and the NIA, encouraging banks to share feedback on improving the efficiency of verification processes. Teresa Eson-Benjamin, Head of the Legal Directorate at NIA, reiterated the legal framework establishing the Ghana Card as the exclusive identification form for banking transactions, ensuring legal compliance across financial institutions.
Biometric verification is recognized as the most secure authentication method, effectively reducing fraudulent activities associated with photocopied Ghana Cards. The discussions urged banks to fully embrace biometric verification to maintain a secure, fraud-proof financial ecosystem in Ghana, adhering to international standards.
Prominent figures at the engagement included Mr. John Awuah, CEO of the Ghana Association of Banks, and various legal, technological, and biometric experts from the NIA and the universal banks. A consensus emerged: the principle of “Trust but verify” must guide the financial sector in Ghana, reinforcing the commitment to biometric authentication for secure transactions.
In summary, the Bank of Ghana firmly prohibits the photocopying of Ghana Cards for banking, advocating for biometric verification as the secure method for identity authentication. This shift is crucial in enhancing the integrity of financial transactions and aligning with legal regulations, thereby fostering a more secure financial environment in Ghana. Key stakeholders emphasize that embracing biometric systems will significantly curtail fraud and strengthen trust in the financial sector.
Original Source: www.myjoyonline.com
