Notice – No.42 – Registered International Money Transfer Operators (IMTOs) in Ghana

For compliance teams at banks, SDIs, PSPs and DEMIs, this is an operational control reminder: remittance counterparties and inward transfer arrangements should be checked against the published register before onboarding or continuing relationships. Firms should update third-party risk assessments, KYC/onboarding files and transaction-monitoring rules, and evidence that only registered IMTOs are used. The publication reduces ambiguity for firms assessing remittance partners, but it does not remove the need for ongoing due diligence, sanctions screening and AML/CFT monitoring.

Action points: reconcile current IMTO relationships to the published list; escalate any unlisted or lapsed counterparties; refresh policies and staff guidance; monitor future BoG updates and retain records of verification. Risk is moderate: dealing with an unregistered operator could create licensing, AML/CFT and reputational exposure. Registered IMTOs may gain a trust advantage and clearer access to bank and PSP rails.

Overall, this is primarily an informational market notice with moderate operational relevance for payment and banking compliance teams.