A US-based Ghanaian certified fraud examiner has revealed that Ghanaian nationals implicated in alleged romance scams, wire fraud, and money laundering do not operate in isolation.
Isaac Obour disclosed that these young perpetrators collaborate with influential individuals, including some who are legally mandated to expose and apprehend them.
While pointing out that Ghana’s financial systems are reasonably robust and equipped with compliance software capable of flagging high-level financial crimes, Mr Obour admitted that certain officials remain complicit.
This collusion, he explained, is driven by the massive financial kickbacks they receive from suspected fraudsters.
According to him, there are glaring instances where the volume of cash inflows received by certain individuals completely contradicts their known economic activities.
In such scenarios, he argued that the banks involved should not feel comfortable allowing these individuals to make unrestricted withdrawals.
Mr Obour strongly advised banks to execute enhanced due diligence to establish whether large foreign inflows are genuine or the proceeds of fraud.
In his view, local financial institutions must build the capacity to remain perpetually on high alert to combat financial crimes.
While acknowledging that banks are making an effort, he insisted they could do much better.
Turning his attention to law enforcement, Mr Obour stated that while security agencies cannot be accused of complacency, their output needs to be stepped up.
Specifically, he called for thorough lifestyle audits targeting individuals flaunting sudden, unexplainable wealth.
He warned that if Ghana fails to deal decisively with these issues, it will taint the nation’s reputation, reduce investor confidence, and paint the country in a negative light.
Speaking on As It Is In Ghana on Rainbow Radio 87.5FM (Ghana) and 92.4FM (UK), Mr Obour stated that Ghana should have been able to deal with these issues before the US Federal Bureau of Investigation (FBI) intervened to extradite Ghanaian citizens to face the law.
He stressed that this intervention alone demonstrates that local security services and agencies are not putting enough effort into addressing such criminal activities.
“The recent extradition of Ghanaians over romance scam and wire fraud is unfortunate. It is not a good picture in the international world. It destroys our reputation in the international world. It undermines investor confidence. These levels of fraud and scam continuously erode trust and confidence in our economy. That is why some of us have stressed the need to strengthen our systems and prevent a few individuals engaging in such criminal activities. We’ve not pronounced anyone guilty, but we cannot also watch on while these few individuals destroy Ghana’s reputation.”
“That is why our law enforcement must do all its best in clamping down on these scammers,” he urged during his appearance on the station’s flagship political programme.
By: Rainbowradioonline.com/Ghana
