The implementation of Anti Money Laundering Terrorist Finance and Corruption Laws in Ghana

Robert Quaye, Hugh Coombs

    Research output: Contribution to journalArticlepeer-review


    This paper investigates Ghana's organised economic crime legislation strategy and the extent to which it may be considered to have met the requirements of the Financial Action Task Force (FATF) 40 (2003) and FATF IX Special Recommendations (2008), in respect of anti money laundering and the financing of terrorism. Following the general context for such measures the paper outlines Ghana's existing legal and regulatory framework and then presents the views of sample practitioners operating within this legal framework. The research objective being to acquire a bottom up and more comprehensive picture of Ghana's experience of such legislation and associated regulation than might otherwise be available. The paper discovered there was general agreement amongst practitioners that Ghana had passed relevant legislation relatively quickly there was concern over how the legislation and regulations worked in practice and the cultural acceptance of corrupt behaviour. Terrorism finance was not seen as a major issue. A need was seen for better education and other additional resources to be devoted to the fight against money laundering and corruption.
    Original languageEnglish
    Pages (from-to)50 - 59
    Number of pages9
    JournalInternational Journal on Governmental Financial Management
    Issue number2
    Publication statusE-pub ahead of print - 1 Dec 2011


    • money laundering
    • terrorist finance and corruption laws
    • ghana
    • financial action task force
    • practitioners' views


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