The Ghana Association of Banks (GAB) is demanding tighter intelligence sharing and a unified industry platform to lift the country’s fraud recovery rate, which stood at roughly five percent in 2025.
Chief Executive Officer John Awuah told attendees of GCB Bank’s “Inside the Scammers’ Playbook” fraud‑awareness event that banks, fintechs, payment service providers and telecoms must collaborate more closely to close gaps that fraudsters exploit.
“If fraud happens, we need to work a lot more together, we need to collaborate a lot more, and we need to cooperate a lot more so that we can improve the recovery rate,” Awuah said, noting that fraudsters increasingly share intelligence and coordinate attacks.
He argued that a common platform for fraud intelligence and response could improve tracing and recovery, even when customers inadvertently enable fraud. “Our ability as operators to help the customer recover, even when they are at fault, is a big foot in the doorway of trust,” he added.
Customer confidence in digital finance hinges on both prevention and effective response. “If we work together, if we invest in a common platform to fight fraud, we will be able to improve our recovery rate from where we are now… to a level where we make it, it disincentivises the fraudsters,” Awuah said.
GCB Bank highlighted customer education as a key part of its strategy. Chief Marketing, Communications and Customer Experience Officer Cynthia Ofori‑Dwumfuo said the event brought together the National Signals Bureau, the Cybersecurity Authority, the CID’s Cybersecurity Unit, GAB and GCB’s internal cybersecurity team to help customers spot scams and verify suspicious requests.
GCB is also running its GCB Ɛyɛ Azaa Campaign alongside GAB’s “Spot the Fraud, Shine Your Eyes” campaign to raise public awareness. Ofori‑Dwumfuo urged customers to double‑check suspicious communications and contact their bank directly if unsure.
The banking sector will now look to the proposed joint platform as a way to increase the recovery rate, restore trust in digital financial services, and deter future fraudsters.
