Mr. Godfred Yeboah Dame, Attorney General and Minister of Justice, has urged actors fighting cross-border economic and financial crimes to increase their collective efforts to curb the growing global problem.
He said that with global trends indicating that organised financial and economic crimes are on a rise, the aim of crime prosecution must be to identify and trace criminals’ assets gained through illegal means.
Mr. Dame made the remarks at the 41st Cambridge International Symposium on Economic Crime, held at Jesus College, University of Cambridge, United Kingdom (UK), on the theme “Suspect Assets.”
He said the global community’s future depended on how well it could develop collaboration among its justice partners to confront the menace and disrupt criminals’ sources of income.
Mr. Dame said that, while asset tracing was international and multi-jurisdictional, “we must bear in mind the peculiarities of asset tracking and fighting economic crime generally within the context of specific continents and regions.”
He said the establishment of the Africa Continental Free Trade Area (AfCTA), which provided Africa with its best opportunity to demonstrate to the world the strength of its potential and the entrepreneurial spirit of its people, created a new set of concerns for law enforcement authorities.
The AG said the survival of the African continent in the global community was dependent on the efficiency cooperation among stakeholders.
“The world can develop a proper response to the dangers posed by economic crime only through a coordinated effort based on mutual cooperation between criminal justice partners and the private sector globally,” he added.
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Mr. Dame said criminals exploited differences between countries to further their objectives, enrich their organisations, expand their network, and avoid detection or apprehension.
They establish influence in government, politics, and commerce through corrupt and illegitimate means.
Mr. Dame said the summit was key to reinforcing global cooperation between the countries that have had assets stolen and the ones where those assets are hidden.Â
“Law enforcement officials on both sides must drive forward to ensure a return of illicit funds to countries from which they originate. There must be free international data sharing to combat cross-border economic crime,” he added.
