The Bank of Ghana, with the help of the Ghana Police Service, has arrested four individuals. They were found operating an unlicensed foreign exchange bureau.
The operation took place in the Osu area. Authorities discovered that the suspects were conducting business without the necessary permits.
The arrests highlight ongoing efforts to regulate financial activities. Operating a forex bureau requires specific licenses from the Bank of Ghana.
Unauthorized forex operations can pose risks to the financial system. They may also be involved in other illicit financial activities.
The Bank of Ghana and the police continue to monitor for such illegal operations.
Legal action is expected to follow the arrests. Investigations are ongoing to determine the full extent of the suspects' activities.