The Implementation of Anti-Money Laundering, Terrorist Finance and Corruption Laws in Ghana

This paper investigates Ghana’s organised economic crime legislation strategy and the extent to which it has met international requirements in respect of anti-money laundering measures. Following the general context for such measures, the paper outlines Ghana’s existing legal framework and then presents the views of sample practitioners operating within this framework. The research objective being to acquire a bottoms-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, while Ghana had passed relevant legislation relatively quickly, there was concern over how the legislation worked in practice and the cultural acceptance of corrupt behaviour. Terrorism finance was not seen as a major issue. A need was identified for better education and additional resources to be devoted to the fight against money laundering and corruption. Practitioners are seen as an untapped knowledge source underutilized by government. Introduction and Background While globalisation has brought with it significant benefits in terms of world trade it has als