{"id":206708,"date":"2024-08-06T16:59:02","date_gmt":"2024-08-06T16:59:02","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/08\/06\/bog-sanctions-47-individuals-245-business-entities-for-issuing-dud-cheques\/"},"modified":"2024-08-06T16:59:02","modified_gmt":"2024-08-06T16:59:02","slug":"bog-sanctions-47-individuals-245-business-entities-for-issuing-dud-cheques","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/08\/06\/bog-sanctions-47-individuals-245-business-entities-for-issuing-dud-cheques\/","title":{"rendered":"BoG sanctions 47 individuals, 245 business entities for issuing dud cheques \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The Bank of Ghana has imposed sanctions on 47 individuals and 245 business entities for issuing dud cheques.<\/strong><\/p>\n<p>A statement from the BoG on August 6, 2024 said the individuals and the entities breached a notice which was published in March 2021.<\/p>\n<p>\u201cThe affected bank customers issued dud cheques on at least three occasions between January 2022 and January 2024, despite warnings about the consequences of their actions\u201d.<\/p>\n<p>\u201cThe offenders are accordingly banned from issuing cheques in Ghana for three years, effective 28th June 2024\u201d it said adding that the offenders will also not be able to access new credit facilities from the banking system for three years with effect from 28th June 2024.<\/p>\n<p>The statement explained that the above sanctions are without prejudice to any legal proceedings that may be taken against the offenders under Ghana\u2019s criminal code.<\/p>\n<p>According to the BoG, banks and Specialised Deposit-Taking Institutions (SDIs) whose customers are involved have been directed to notify the culprits of the ban and recall all unused cheque books from them.<\/p>\n<p>\u201cThey shall not issue new cheque books to the affected customers until the sanctions are lifted. The public is by this Notice, cautioned to desist from issuing dud cheques as the offence has both legal and regulatory consequences. Bank of Ghana will continue to monitor the payment system space closely and is committed to the promotion of the integrity and soundness of the financial system\u201d, the statement concluded.<\/p>\n<p>Myjoyonline.com  <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana has imposed sanctions on 47 individuals and 245 business entities for issuing dud cheques. A statement from the BoG on August 6, 2024 said the individuals and the entities breached a notice which was published in March 2021. \u201cThe affected bank customers issued dud cheques on at least three occasions between [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":206709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-206708","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG sanctions 47 individuals, 245 business entities for issuing dud cheques \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/08\/06\/bog-sanctions-47-individuals-245-business-entities-for-issuing-dud-cheques\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG sanctions 47 individuals, 245 business entities for issuing dud cheques \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana has imposed sanctions on 47 individuals and 245 business entities for issuing dud cheques. 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