Ghana’s Minister of Justice and Attorney-General, Godfred Dame, addressed the 41st Cambridge Economic Crime Conference on September 2, highlighting the country’s robust measures to combat financial and economic crime.
He emphasized that the primary motivation behind these crimes is the pursuit of illicit wealth and unfair advantages.
To tackle this, Dame stressed the importance of effectively tracing and recovering the assets of suspects, thereby eliminating the incentive for such crimes. He stated, “Asset tracing is the ultimate goal in combating economic and financial crime.”
Dame also noted that allowing perpetrators to retain the proceeds of their crimes is not only morally reprehensible but also detrimental to developing nations like Ghana. It erodes trust in the system and deprives the country of vital revenue needed for development projects.
In essence, Ghana’s approach focuses on:
1. Tracing and recovering assets to remove the motivation for financial and economic crime.
2. Preventing perpetrators from benefiting from their crimes.
3. Rebuilding trust in the system.
4. Securing revenue for development projects.
By adopting this strategy, Ghana aims to effectively combat financial and economic crime, promoting a fairer and more prosperous society.
”Thus, the quest to recover the assets of criminals obtained from criminal enterprise places law enforcement agencies squarely in the position to contribute to the national purse since a success in that regard makes them a major generator of revenue”.
Baina Multimedia/ Khadijahtu Kubura Kailani
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