The Pyram and Resources 5 (R5) episodes in the late 1990s testify to this. The negative list of financial fraud can be endless. It is for this reason that some commentators have concluded that “fraud prevention is as important as prudential supervisions”.
Mr. Chairman, since Ghana’s independence in 1957, the key organs of the State, namely policymakers, law-makers and the courts as well as the financial regulators have taken various measures within their respective spheres of power to deal with all forms of fraudulent activities.