Anti-Money Laundering Act, 2008 (Act 749)

Section 21(1) and First Schedule: (a) an entity which is a bank or a non-bank financial institution which carries on any of the following activities:(i) accepting deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, orders or by any other means,(ii) financing, whether in whole or in part or by way of short, medium or long term loans or advances of trade, industry, commerce or agriculture,(iii) the issue and administration of means of payment including credit cards, travellers' cheques bankers' drafts and other financial instruments,(iv) the trade in foreign exchange, currency market instruments or transferable securities,(v) securities portfolio management and advice concerned with the portfolio management,(vi) dealing in shares, stocks, bonds or other securities,(vii) leasing, letting or delivering goods to a hirer under a hire purchase agreement,(viii) the conduct of any business,(ix) the collection of money or acceptance of employer contributions and payment from these funds of legitimate claims for retirement benefits; and(x) any other business activities that the Bank of Ghana may prescribe or recognise as being part of banking business;(b) auctioneers; (c) lawyers; (d) notaries; (e) accountants; (f) religious bodies; (g) non-governmental organizations; (h) a person whose business or principal part of whose business consists of providing financial services that involve the exchange of funds; (i) operators of game of chance; (j) a company carrying on insurnace business within the meaning of the Insurance Act, 2006 (Act 724); (k)  a real estate company or agent, only to the extent that the real estate company or agent receives funds in the course of the agent's business to settle real estate transactions; (l) dealers in precious metals and precious stones; (m) dealers in motor vehicles and (n) trust and company service providers.

Procedures to Follow

Not Avaiable

Responsible Institution

Bank of Ghana

Accra Central

Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable