The Bank of Ghana (BoG) has introduced stricter penalties for individuals and businesses that issue dud cheques. The revised notice, issued on June 23, 2026, applies to all banks and Specialised Deposit-Taking Institutions (SDIs).
Dud or Bounced Cheque
A dud cheque is a cheque that a bank cannot honour due to insufficient funds in the issuer’s account. Under Ghana’s Criminal Offences Act, issuing a dud cheque is a criminal offence, punishable by a fine and/or imprisonment of up to five years.
About The BoG Penalties
First Offence:
- Penalty of 10% of the cheque’s face value.
- Formal written warning to the customer.
- Report to the Bank of Ghana and credit reference bureaus.
- Customer placed under monitoring for at least one year.
Second Offence (within one year):
- Penalty of 15% of the cheque’s face value.
- Additional warning notification.
- Fresh report to the Bank of Ghana and credit reference bureaus.
Third Offence (within one year):
- Penalty of 20% of the cheque’s face value.
- Report to regulators and credit bureaus.
- Possible further regulatory restrictions by the Bank of Ghana.
Additional Sanctions for Repeat (Third-Time) Offenders
The Bank of Ghana may impose the following measures:
- Ban the offender from issuing cheques in Ghana for at least three years.
- Bar the offender from accessing new credit facilities from the banking system for one year.
- Require banks to recall all unused cheque books.
- Add the offender’s details to a directory of high-risk cheque issuers.
- Possibly publish the names of habitual offenders.
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According to the Bank of Ghana, these tougher sanctions aim to curb the rising number of dud cheques, restore public confidence in cheque transactions, and promote greater discipline in the financial system.
Issuing a bounced cheque in Ghana now carries immediate financial penalties, credit reporting consequences, and — for repeat offenders — severe restrictions including bans on cheque issuance and new loans. Customers are strongly advised to ensure sufficient funds before issuing cheques.