Ghana loses heavily to money laundering

The Director-General of the Inter-Governmental Action Group against Money Laundering in West (GIABA), Dr Abdullahi Shewu, has lauded politicians in Ghana for showcasing their commitment to ensure money laundering is completely uprooted in the country.

Briefing the Press at the Accra International Conference Centre during the 19th Technical Commission/Plenary Meeting and the 12th GIABA Ministerial Committee Meeting, Dr. Abdullahi Shewu noted that since the inception of the Financial Intelligence Centre in Ghana, money laundering had become minimal compared to the days our nation operated without one.

According to him, the establishment of the outfit had become a sure way to keep a spot light and monitor activities of politicians and civilians in African countries signed up to GIABA. He continued that their monitoring had barred smart criminals from creating offshore accounts to stash their ill gotten wealth.

Also present at the event was the Chief Executive Officer of Financial Intelligence Centre, Mr. Samuel Thompson Essel, Mr. Alex Sergefia from the Office of the President and the deputy minister for Finance, Mr. Cassiel Ato Forson.

Sharing a brief word with the press, the Chief Executive Officer of Financial Intelligence Centre, Mr. Samuel Thompson Essel revealed that his outfit was currently handling over seven hundred cases related to money laundering in the country.

He hinted that out of the loaded cases, they had tackle 300 of them and this had led to confiscation of belongings which value over $2.8 million.

Mr. Thompson Essel ended by also praising politicians for embracing the fight against money laundering and added that it would always make the country an uncomfortable haven for criminals.