General News of 2014-02-07

Gov’t denies victimizing owners of NPP-related businesses

Government has denied using the nation’s Anti-Money Laundering Act to victimize business owners thought to be allies of the opposition New Patriotic Party (NPP).

The Deputy Attorney-General, Dr. Dominic Ayine, in an interview with Citi News moments after Parliament read the Anti-Money Laundering Bill for the second time on Thursday, said the claims are false and without merit.

According to him, there is no official policy which targets particular individuals or which aims at stifling businesses “by simply freezing accounts and so on.”

Dr. Ayine explained however, that the law entitles state agencies involved in investigating and prosecuting money laundering offences “to ensure that where there is a reasonable basis for suspecting financial transfers are related to the commission of an offence.”

Therefore, the proceeds of such financial transfers from money laundering “must be frozen until due process in relation to investigation establishes that the financial proceeds are not from unlawful sources.”

« Previous | Next »
View Comments
News Categories
Site Menu