The Bank of Ghana (BoG) has assured that measures have been instituted to ensure that the Ghana Gold Coin initiative complies with national and international regulations.
The central bank said it has implemented stringent Anti-Money Laundering/ Countering the Financing of Terrorism (AML/ CFT) measures to ensure that the issuance of gold coins does not promote ,money laundering. "All transactions shall be routed through banks where customers have been subjected to thorough Know Your Customer and Customer Due Diligence checks and sources of funds are proven.
In addition, transaction monitoring and reporting of suspicious activities frameworks shall be in place. "All buyers will be required to undergo identity verification, and transactions will be subject to limits that trigger additional scrutiny if exceeded.
These measures are designed to prevent the use of gold coins in illicit activities," the BopG said while answering the Frequently Asked Questions on the initiative.