No cause for alarm over GHc 900,000 fraud – Stanbic Bank

The incidence of fraud associated with Stanbic Bank Ghana should not alarm customers of the bank or be viewed as the norm, the Head of Marketing and Corporate Affairs at Stanbic Bank, Mawuko Afadzinu, has said.

This follows reports that a 33-year-old outsourced worker of the Tema Community One branch of Stanbic Bank Ghana, Martha Amakye, is wanted by the Police for allegedly defrauding customers of the bank to the tune of over GHc 900,000.

She is an outsourced worker from Noswall Management Service, and she absconded after the Financial Crime Control Unit of the bank discovered the fraud.

Speaking on the Citi Breakfast Show, Mr. Afadzinu assured that Stanbic Bank had robust checks and balances in place to minimize and mitigate situations of this nature, as he said the bank considered this incident “to be an aberration and it has been dealt with accordingly.”

Martha Amakye, a personal solutions consultant is said to have collected various sums of money from customers of the bank between 2015 and 2016 on the pretext of investing in fixed deposits.

Mr. Afadzinu explained that these were private transactions that were outside the remit of her designation.

“She appears to have gone into the business of selling other products that were not bank products and did transactions in her own private capacity using her association with the bank.”

According to him, some of the victims of the fraud have said, “they knew it was a very private transaction” and he urged customers of the bank to ensure that “all the transactions that they conduct are transactions with requisite officials of the bank.”

“Our reputation, or pedigree, or standing as Africa’s largest bank is because of a long tradition of very robust financial and banking principles and discipline which we stick to religiously. This is a rare situation which occurred because we have someone who went outside the remit and did things that were not supposed to be done and this is one that we are going to resolve,” Mr. Afadzinu said.

By: Delali Adogla-Bessa/