Section 138 of the Securities Industry Act, 2016, (Act 929) empowers the Securities and
Exchange Commission (SEC) to ensure that all its regulated entities operate in compliance with
the provisions of Ghana’s Anti-Money Laundering Act 2008 (Act 749) as amended by AntiMoney Laundering (Amendment) Act, 2014(Act 874), Anti-Terrorism Act 2008 (Act 762) as
amended by Anti-Terrorism (Amendment) Act 2014 (Act 875) to fight ML, TF and PF.

Given the prominence that financial crimes especially Money Laundering (ML), Terrorist
Financing (TF), the Financing of the Proliferation of Weapons of Mass Destruction (PF) and
transnational organized crimes have assumed in international financial markets, and the risks
they pose to the financial markets globally and to Ghana in particular, the need for a
comprehensive effort to fight this menace has been realized. It is against this background that
SEC and the Financial Intelligence Centre (FIC) in accordance with Section 6(d) of the AntiMoney Laundering Act, 2008 (Act 749) as amended by (Act 874), and Regulation 38 of
L.I.1987, have developed these guidelines to guide Market Operators (MOs) to enhance their
monitoring and surveillance systems with a view to preventing, detecting and responding
appropriately to ML, TF, PF and similar risks in the financial market. SEC also collaborates with
appropriate Law Enforcement Agencies (LEAs) and other stakeholders in its work.

These Guidelines are therefore issued pursuant to section 209 of Act 929 and are structured in
two parts, namely Part A and Part B.

Part A covers among others the following key areas; Institutional Policy Framework, Risk
Assessment, Reporting Officer designation and duties; the need to co-operate with the
supervisory authorities; customer due diligence; monitoring and responding to suspicious
transactions; reporting requirements; record keeping and AML/CFT & PF employee training
program.

Part B covers key areas such as; Know Your Customer (KYC) procedures; identification
procedures; financial inclusion and sanctions.
Anti-Money Laundering Guidelines 2018