Ghana needs tougher rules against money laundering, said Interior Minister Mohammed Mubarak Muntaka. He spoke at a Friday meeting with officials from the Inter-Governmental Action Group against Money Laundering in West Africa and the Financial Intelligence Centre. The current law, the Anti-Money Laundering Act 2020 (Act 1044), requires banks, insurance companies, and other money handlers to report shady deals.
Muntaka pushed for teamwork between different groups to catch people who hide dirty money. He promised his government would back GIABA's efforts to keep financial systems clean and safe. GIABA's boss, Edwin Harris, praised Ghana for taking part in regional efforts against financial crimes. Harris noticed big improvements since Ghana passed its 2020 law to make money moves more see-through.
Several important people joined the talks at this meeting. The group included Deputy Interior Minister Okletey Teilarbi, Acting Chief Director of the Ministry Doreen Annan, and Acting Chief Executive Officer of FIC Albert Kwadwo Twum Boafo. These leaders met to discuss ways Ghana can stop criminals from washing illegal cash through banks.
The fight against hidden money transfers matters because criminal groups often sneak cash across borders. When countries catch these tricks, they can stop terrorists, drug dealers, and corrupt officials from using the banking system. Ghana stands as a leader in West Africa for its tough stance against financial crime, but Muntaka believes the nation must push even harder.
Muntaka pushed for teamwork between different groups to catch people who hide dirty money. He promised his government would back GIABA's efforts to keep financial systems clean and safe. GIABA's boss, Edwin Harris, praised Ghana for taking part in regional efforts against financial crimes. Harris noticed big improvements since Ghana passed its 2020 law to make money moves more see-through.
Several important people joined the talks at this meeting. The group included Deputy Interior Minister Okletey Teilarbi, Acting Chief Director of the Ministry Doreen Annan, and Acting Chief Executive Officer of FIC Albert Kwadwo Twum Boafo. These leaders met to discuss ways Ghana can stop criminals from washing illegal cash through banks.
The fight against hidden money transfers matters because criminal groups often sneak cash across borders. When countries catch these tricks, they can stop terrorists, drug dealers, and corrupt officials from using the banking system. Ghana stands as a leader in West Africa for its tough stance against financial crime, but Muntaka believes the nation must push even harder.
