Bank of Ghana Flags 10 Unapproved Money Transfer Operators Including Hurupay and Eversend

BoG blacklists 10 money transfer companies - What you need to know - Live Ghana TV

The Bank of Ghana (BoG) has blacklisted ten (10) Money Transfer Organisations (MTOs) operating within Ghana’s remittance and foreign exchange market for failing to obtain the necessary approval from the central bank. In a statement dated 27th June and signed by Secretary Sandra Thompson, the BoG stated that the activities of these MTOs constitute a violation of Section 3.1 and Section 15.3 of the Foreign Exchange Act, 2006 (Act 723). Section 3…

Bank of Ghana warns public against 10 unapproved money transfer operators

The Bank of Ghana has issued a stern warning to financial institutions and the general public about the operations of ten unlicensed Money Transfer Organisations (MTOs) currently operating within the remittance and foreign exchange market in the country .

Bank of Ghana Lists 10 Unapproved Money Transfer Operators, Issues Public Warning

The Bank of Ghana (BoG) has issued a public warning against ten Money Transfer Organisations (MTOs) found operating within the remittance and foreign exchange market without the required regulatory approval. In a statement released on Friday, June 27, the central bank cautioned financial institutions, electronic money issuers, and the general public to avoid transacting with the following unapproved MTOs: 1. ACE Money Transfer 2. Remit Union 3. …

Bank of Ghana Flags 10 Unapproved Money Transfer Operators Including Hurupay and Eversend

The Bank of Ghana has blacklisted 10 Money Transfer Organisations (MTOs) for operating within the remittance and forex market without official approval. Why it matters The regulator is tightening its grip on foreign exchange activities to ensure only licensed entities handle cross-border transfers, warning of severe sanctions for non-compliance. The details According to a public […] The post Bank of Ghana Flags 10 Unapproved Money Transfer Opera…

BoG warns the public against the use of these unapproved money transfer organizations

The Bank of Ghana has warned the people of Ghana not to use the services of some ten money transfer organisations. According to the central bank, these money transfer organisations are not approved to operate within the remittance and Ghana Forex Market. A statement issued by the Central Bank on Friday, June 27, said that the Public, Banks, Dedicated Electronic Money Issuer (DEMI) and Enhanced Payment Service Providers (EPSP) are by this Notice …

BoG Cracks Down On Unlicensed Money Transfer Firms

The Bank of Ghana (BoG) has raised alarm over the operations of unlicensed money transfer organizations (MTOs) conducting transactions within Ghana’s remittance and foreign exchange markets.  According to an official public notice, these unauthorized entities are operating without the required regulatory approval, in violation of the country’s financial laws. The central bank identified several MTOs operating illegally in the financial ecosystem…