Business News of 2014-07-19

Ghana Supports fight against economic crimes

Vice-President Kwesi Amissah-Arthur has called for concerted efforts by countries in the West African sub-region to combat all forms of economic crimes which threaten their societies.

He emphasised the need for institutions committed to fight economic crimes in the sub-region to join forces in controlling the menace, which was bleeding the economies of member countries.

Mr. Amissah-Arthur made the remarks when a joint delegation from the Financial Intelligence Centre (FIC) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) called on him at his office at the Flagstaff House in Accra.

Mr Amissah-Arthur stated that no country in the sub-region could do it alone in fighting economic crimes and had succeeded due to the sophistication it had assumed.

He said the sophistication that economic crimes had undergone over the years demanded that institutions in member countries shared vital information towards its eradication.

"There is the need for more robust efforts by institutions committed to fighting economic crimes to share experiences to avert the menace," he said.

Mr. Amissah-Arthur also noted that the government was aware of the constraints militating against the FIC and was in the process of providing the needed logistics to enhance its activities.

Mr Sam Essel, Head of the FIC, expressed the determination of his outfit to fight those crimes in all their manifestation in the country.

He, however, called for the support of the various stakeholders in the Ghanaian society to lend concrete assistance to shore up its activities.

“We are also in constant touch with other sister organisations in the sub-region to share information related to economic crime and other forms of financial malfeasance," he added

Mr Adama Coulibally, GIABA Director General, reiterated the commitment of the organisation to support governments in the sub-region to fight the crimes.

Source: GNA
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