The Bank of Ghana has issued a list of red flags to look out for relative to terrorist financing.
The central bank states that persons involved in foreign currency sales and purchases who share a common address and or number, particularly when the address and or number is not the known address and or number of the individuals involved in the transaction is a red flag.
In addition, the BoG said, Foreign currency sales and purchases by a non-profit or charitable organization, for which there appears to be no logical economic purpose or for which there appears to be no alignment between the stated activity of the organisation and other parties in the transaction is also a red flag.
Also, it can be red a flag when the stated occupation of the customer is inconsistent with the type and level of sales and purchases of foreign currencies.
