GCB Bank has reaffirmed its unwavering commitment to safeguarding customer funds and securing its banking systems, following reports of an alleged ATM-related fraud case that is currently before the courts. The Bank stressed that the matter does not weaken its resolve to maintain the highest standards of security across all its operational channels.
According to the Bank, protecting customer assets remains a top priority, anchored by a zero-tolerance policy toward financial crime. GCB Bank noted that it has consistently invested in robust security architecture designed to prevent, detect, and respond swiftly to any form of suspicious activity within its ecosystem.
Zero-Tolerance Policy on Financial Crime
GCB Bank emphasized that its anti-fraud framework is built on strong internal controls, real-time transaction monitoring systems, and layered security protocols across its digital and physical banking platforms. These measures, the Bank said, enable early detection of unusual transaction patterns and rapid intervention before losses can occur.
The Bank explained that its systems are continuously upgraded to address emerging threats as fraud tactics evolve. By combining technology-driven monitoring with strict operational procedures, GCB Bank aims to ensure that every transaction is subject to adequate scrutiny without compromising customer convenience.
This approach, the Bank noted, reflects its broader commitment to maintaining trust and confidence in Ghana’s financial system, particularly at a time when digital banking usage continues to grow.
Collaboration With Security Agencies
GCB Bank disclosed that it works closely with state security agencies to investigate and prosecute suspected offenders. The Bank described this collaboration as a critical pillar of its anti-fraud strategy, ensuring that attempted fraud cases are promptly detected, escalated, and addressed within the framework of the law.
According to the Bank, these partnerships have proven effective in disrupting fraudulent schemes and holding perpetrators accountable. GCB stated that the proactive engagement with law enforcement agencies has strengthened its ability to respond decisively to threats and has reinforced public confidence in its security arrangements.
The Bank stressed that financial crime is not only a threat to individual customers but also to the stability of the banking sector, making coordinated action essential.
Customer Funds Safety Is Non-Negotiable
Commenting on the issue, Theophilus Aryee, Chief Risk Officer of GCB Bank, underscored the Bank’s firm stance on protecting customers’ funds. “The safety of customers’ funds remains non-negotiable,” he said.
Mr. Aryee noted that GCB Bank continues to invest significantly in people, processes, and technology to stay ahead of evolving risks in the financial sector. He explained that fraud prevention requires constant innovation and vigilance, especially as criminals adopt more sophisticated methods.
He added that the Bank’s strengthened collaboration with security agencies ensures that perpetrators are identified, frustrated, and dealt with in accordance with the law. According to him, this coordinated approach creates a more robust framework for addressing emerging threats and deterring future attempts.
Intensifying Customer Education
As part of its preventive measures, GCB Bank announced that it is intensifying customer education on safe banking practices. The Bank believes that informed customers play a critical role in preventing fraud, particularly in relation to ATM usage and digital transactions.
Customers are being advised to safeguard their ATM cards and personal identification numbers, avoid third-party assistance at ATM terminals and in banking halls, and remain vigilant when conducting transactions. The Bank also urged customers to promptly report lost cards or any suspicious activity.
GCB Bank reminded customers that reports can be made through its official channels or its Customer Experience hotline on 0800 422 422. Early reporting, the Bank said, significantly improves the chances of stopping fraudulent transactions and minimizing potential losses.
GCB Bank remains Ghana’s largest indigenous bank, with a nationwide branch network supported by comprehensive digital banking solutions. Established in 1953, the Bank serves individuals, small and medium-sized enterprises, corporates, and institutions across the country.
Guided by its brand promise, Your Bank for Life, GCB Bank said it remains committed to innovation, security, and customer-centric banking. The Bank reiterated that it will continue to strengthen its systems and partnerships to ensure that customers can bank with confidence in an increasingly complex financial environment.
