The Bank of Ghana (BOG) has warned the general public not to get involved with some online apps operating without a license.
In a statement released by the central bank and sighted by 1Family Radio, about 97 of these unlicensed loan applications were named. Per the statement, the invasion of these loan apps is in contravention of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930).
“The Bank of Ghana reiterated that the activities of these entities significantly breach customer data and privacy laws as well as customer protection requirements and norms, with unfavorable implications for the integrity and wellbeing of their patrons,’’ parts of the statement read.
“The general public is advised to consult the bank’s website using the link below for the approved list of licensed institutions before transacting any business with an institution.’’
”The public is advised to report such activities to the Bank of Ghana,’’ the statement noted.
Here are some of the unlicensed loan applications: