International cooperation, technology key to tackling cross-border economic crimes – EOCO Boss

The Executive Director of the Economic and Organized Crime Office (EOCO), Ghana’s specialised agency that monitors and investigates economic and organised crime, COP Maame Yaa Tiwaa Addo-Danquah(Mrs) has stated that international cooperation and the leveraging of technology, including cybersecurity, are two effective traditional approaches to the fight against cross-border economic and organised crimes.

Speaking on the Effectiveness of Traditional Approaches to Policing Economically Motivated Crimes in both Domestic and Transnational contexts, at Cambridge University during the International Symposium on Economic Crime on September 7, COP Addo-Danquah explained fighting international economic crimes requires cooperation between agencies of countries and the use of appropriate modern technology including cybersecurity.

“Policing economically motivated crimes that transcend borders necessitates close cooperation between law enforcement agencies from different countries.

Treaties and agreements, such as Mutual Legal Assistance Treaties (MLATs), facilitate information sharing and extradition, enabling the pursuit of criminals beyond national boundaries.

Specialised units

In the transnational context, specialized units like Interpol’s Financial Crimes Unit and Europol’s European Cybercrime Centre are crucial. They focus on coordinating efforts, intelligence-sharing, and providing expertise in tackling cross-border economic crimes,” she explained.

On technology and Cybersecurity, she noted that: “Transnational economic crimes, particularly cybercrimes, are increasingly sophisticated. Traditional policing must adapt by incorporating cutting-edge technology and cybersecurity measures to combat digital fraud, data breaches, and hacking activities,” she concluded.

She also spoke on the challenges of fighting economic crimes in the prevailing times using traditional approaches. She mentioned the rapidly evolving nature of economic crimes, especially in the digital realm and the advent of virtual currencies.