Strong legal frameworks make the fight against economic crimes easier – EOCO boss

Executive Director of the Economic and Organized Crime Office (EOCO), COP Maame Yaa Tiwaa Addo-Danquah has underscored the need for strong legal frameworks and regulatory authorities in fighting organised economic crimes at the domestic level.

COP Maame Yaa noted that robust legal frameworks and regulatory authorities facilitate the fight against economic crimes by ensuring that legislation and regulation in the financial sector are enforced to forestall economic crime.

Speaking in Session 10 at The International Symposium on Economic Crime at Jesus College in Cambridge on September 7 2023 on the Effectiveness of Traditional Approaches to Policing Economically Motivated Crimes in both the Domestic and Transnational Context, she noted that EOCO and other related agencies play key roles in tackling economic crimes.

“Effective policing of economically motivated crime at home is facilitated by a robust legal framework and regulatory authorities. Agencies like the Securities and Exchange Commission (SEC), Economic and Organised Crime Office (EOCO), Office of the Special Prosecutor (OSP) Financial Intelligence Centre (FIC), and the Financial Crimes Enforcement Network (FinCEN) play a pivotal role in enforcing regulations and ensuring compliance within the financial industry.

"Criminals often exploit loopholes in outdated regulations and adapt to new technologies,” she explained.

She also cited inter-agency cooperation and community policing as key in tackling economic crimes domestically.

Community policing

Engaging with local communities is vital to prevent financially motivated crimes from occurring in the first place. Community-oriented policing builds trust and encourages citizens to report suspicious activities, aiding law enforcement in detecting potential economic crimes,” she added.

The EOCO Boss also spoke on the Effectiveness of Traditional Approaches to Policing Economically Motivated Crimes in the Transnational Context.

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to start the nomination process for the 2023 GhanaWeb Excellence Awards