Business News of 2014-07-19

Let’s join forces to fight economic crimes — Veep

The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has called for concerted efforts by West African countries to combat all forms of economic crimes which threaten their societies.
He emphasised that institutions that had the responsibility for fighting economic crimes in the sub-region needed to join forces in fighting the menace which was bleeding the economies of the various countries.
Information sharing
Mr Amissah-Arthur made the call when a joint delegation of the Financial Intelligence Centre and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), an organisation committed to fighting economic and financial crimes, called on him at the Flagstaff House yesterday.
He said no country in the sub-region could single-handedly fight economic crimes and succeed because of the sophistication such crimes had assumed, emphasising that information sharing by institutions in member countries was vital 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 said the government was aware of the constraints militating against the Financial Intelligent Centre and was in the process of providing them with the needed logistics to enhance their activities.
Call for assistance
The Head of the Financial Intelligence Centre, Mr Sam Essel, expressed the determination of his outfit to fight economic and financial crimes in all their manifestation in the country. He called on the various stakeholders to assist the centre in 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," Mr Essel said.
The GIABA Director General, Adama Coulibally, reiterated his organisation’s commitment to supporting governments in the sub-region to fight economic and financial crimes.
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