BoG: SANCTIONS FOR THE ISSUANCE OF DUD CHEQUES

Bank of Ghana has observed with grave concern the high issuance of dud cheques by some customers of banks and SDIs. This development has consequential effects on the acceptance of cheques for transactions. To discourage this malpractice, and to sustain confidence in the payment system, the Bank of Ghana has revised the sanctioning regime in respect of issuance of dud cheques for strict compliance by banks and SDIs as follows [read more...