Attorney General and Minister of Justice, Godfred Yeboah Dame, has emphasized the need for urgent global cooperation to combat the growing menace of cross-border economic and financial crimes.
Speaking at the 41st Cambridge International Symposium on Economic Crime in the UK, Dame called on top global actors to step up cooperation efforts to root out the phenomenon.
The Attorney General noted that the end game of prosecution is to identify and trace assets obtained from illicit activities, stressing that global survival depends on effective collaboration between justice partners to combat the menace.
He highlighted the complexities of asset tracing within specific continents and regions, particularly in Africa, where regional integration has unleashed new challenges.
Dame emphasized the need for international cooperation in confronting financial and economic crime, citing the African Continental Free Trade Area (AfCTA) as a potential breeding ground for migratory problems, corruption, money laundering, and environmental challenges.
He urged the deployment of international conventions such as the United Nations Convention Against Corruption (UNCAC) and the African Union Convention on Preventing and Combating Corruption to facilitate cross-border cooperation in asset recovery.
The Attorney General also touched on the theme of the symposium, “Suspect Assets,” stressing the importance of tracing assets and recovering proceeds of crime to nip the motive for such crimes in the bud.
He warned against the abuse of plea-bargaining, emphasizing the need for a delicate balance to be struck to avoid sacrificing reputation and creating false impressions.
On domestic efforts, Dame highlighted Ghana’s legislations and mechanisms in place to deal with economic and financial crimes, including the Economic and Organised Crimes Office Act, the Office of the Special Prosecutor Act, and the Companies Act.
He emphasized the need for cooperation between institutions and foreign agencies to trace and recover assets.
-BY Daniel Bampoe