- 20 Marks
BORMPTM – APR 2023 – L3 – Q6 – Banking Supervision Monitoring, Reports, FIC Functions
Explain on-site and off-site monitoring by BoG, list five reports for off-site, and describe FIC functions in AML
Question
a) The Banking Supervision Department regularly monitors the financial performance and operations of banks in order to ensure they are operating soundly and following rules and regulations. They do this through onsite and offsite monitoring of the banks. Explain on – site and off – site monitoring of banks by the department. [5 marks]
b) List and explain five (5) reports your bank would likely submit to the Banking Supervision Department for Offsite monitoring. [5 marks]
c) What are the functions performed by the Financial Intelligence Centre (FIC) in the fight against money laundering in Ghana? [10 marks]
[Total: 20 marks]
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