The BoG fraud report (4): lets clear the weeds from the grass

Alberta Quarcoopome emphasizes the critical role of trust in banking, particularly in light of internal fraud cases revealed in the Bank of Ghana's Fraud Report.

She explains operational risk as the loss resulting from inadequate systems, people, or processes, with system risk arising from issues like data breaches and system failures.

Quarcoopome highlights key prevention methods, such as training staff, segregating data entry duties, preventing misuse of access rights, and avoiding password sharing.

She stresses the importance of addressing these risks to maintain trust and operational integrity in banking. The article continues next week with external risks.