a) On-site monitoring by BoG’s Banking Supervision Department (BSD) involves physical inspections at bank premises to verify operations, internal controls, and compliance with Act 930, CRD, and directives like Corporate Governance 2018. Examiners review records, interview staff, and assess risks like AML, often annually or risk-based, as in post-cleanup audits.

Off-site monitoring is remote analysis of submitted reports to track financial health, trends, and early warnings. It uses prudential returns for ongoing surveillance, enabling timely interventions without physical presence, aligned with Basel principles for efficiency.

b) Five reports submitted for off-site monitoring:

1. Prudential Returns: Monthly/quarterly financial statements (balance sheet, income) for overall health assessment.
2. Capital Adequacy Reports: Details CAR computations under CRD, ensuring compliance with minimum ratios.
3. Liquidity Reports: Daily/weekly LCR and NSFR data to monitor funding risks.
4. Credit Risk Reports: Loan portfolios, classifications, and provisions per Section 75 of Act 930.
5. Foreign Exchange Position Reports: NOP details under Section 41, tracking forex exposure.

c) The Financial Intelligence Centre (FIC), established under the Anti-Money Laundering Act 2008 (amended), combats ML/TF in Ghana. Key functions:

• Receipt of Reports: Collects Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) from banks and entities.
• Analysis and Intelligence Generation: Analyzes reports to identify ML patterns, producing financial intelligence reports.
• Dissemination to Authorities: Shares intelligence with law enforcement like EOCO, Police for investigations.
• Asset Freezing and Seizure: Issues orders to freeze suspicious assets, preventing laundering.
• International Cooperation: Exchanges info with global FIUs via Egmont Group, aiding cross-border cases.
• Awareness and Training: Educates stakeholders on AML, conducts workshops for banks.
• Monitoring Compliance: Oversees reporting obligations under AML guidelines with BoG.
• Research and Policy Advice: Advises on ML trends, supporting BoG’s directives.
• Database Maintenance: Manages secure data on transactions for audits.
• Risk Assessments: Conducts national ML/TF risk evaluations for policy