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What is the sense in our anti-money laundering laws? - Kwesi Pratt queries

Kwesi Ibn Pratt Peace FM Kwesi Pratt Jnr

Sun, 17 Sep 2023 Source:

Seasoned Journalist, Kwesi Pratt Jnr. has questioned the essence of anti-money laundering laws in Ghana.

The Managing Editor of the Insight newspaper, joining the Friday team of Peace FM's "Kokrokoo" morning show, raised concerns over the way and manner people alleged to be laundering money into the country are treated.

According to him, there is no prohibition when a Ghanaian is sending huge amounts of foreign currency to a foreign country but when he or she is bringing similar amount to Ghana, the person is said to be in breach of the law.

He cited how smooth and unchallenging it is for a person to convey for instance 5 million dollars from Ghana to Switzerland without any inhibition but when the same person is bringing such colossal amount of money into Ghana, he or she stands the risk of being arrested and prosecuted.

What is even more disheartening, he added, is Ghanaian authorities who will even encourage the extradition of the money launderer to be prosecuted by the foreign authorities.

" . . these foreign countries are exploiting Ghanaians to enrich their nations and instead of Ghana doing same, the authorities are busily arresting people for hoarding money which they have legitimately acquired and want to transfer such funds to Ghana which would be of enormous benefit to the growth of the nation.

"What is the sense in our anti-money laundering laws?", he queried as he could not wrap his head around such financial restrictive acts in Ghana.

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