Abstract
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 language | English |
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Pages (from-to) | 50 - 59 |
Number of pages | 9 |
Journal | International Journal on Governmental Financial Management |
Volume | 11 |
Issue number | 2 |
Publication status | E-pub ahead of print - 1 Dec 2011 |
Keywords
- money laundering
- terrorist finance and corruption laws
- ghana
- financial action task force
- practitioners' views