Business News Tue, 9 Sep 2003

Your accounts are safe - SSB Bank

Accra, Sept. 9, GNA - The Management of the SSB Bank has given an assurance to its customers that their accounts are secure and would in no way be affected by the recent fraud discovered in the Bank.

It said the Bank is constantly on the look out for such occurrences and would not condone it, adding, "the customers mentioned in the said stories are accomplices."

A statement by Mr Pierre Andre Taulet, Managing Director of SSB Bank, said it is the Bank's avowed aim to protect the interest of customers and shareholders at all times.

He said the Bank would not relent in its efforts to expose all fraudulent practices and ensure prosecution, notwithstanding, the consequences.


Mr Taulet confirmed the stories of fraud totalling 2.5 billion cedis by two Information Technology employees saying; "we are aware of the occurrence of fraud ... which is unfortunately part of the risk inherent in banking and other financial transactions all over the world". He said often such matters are not published by some, "but we will not cover anyone. Our policy is against compromising staff involved in such frauds or any other arrangements aimed at covering up".

He explained that it was because of this that the Bank agreed to prosecute the individuals within a matter of days after uncovering these criminal acts, indicating, " the fraudulent acts were discovered by our branch staff".

He said since Societe General took over, in March 2003, it has waged war on fraud and has taken several measures to review its internal procedures and had reinforced the Inspection Department with new staff. 09 Sept. 03

Source: GNA