Source: newsthemegh.com
In order to combat organized economic crimes at the domestic level, COP Maame Yaa Tiwaa Addo-Danquah (Mrs.), Executive Director of the Economic and Organized Crime Office (EOCO), has emphasized the importance of robust legal frameworks and regulatory bodies.
Strong legal frameworks and regulatory bodies, according to COP Maame Yaa, make it easier to combat economic crimes by ensuring that rules and regulations in the financial sector are upheld in order to deter economic crime.
She mentioned that EOCO and other related agencies play important roles in combating economic crimes while speaking in Session 10 of The International Symposium on Economic Crime at Jesus College in Cambridge on September 7 2023. The session’s topic was the effectiveness of traditional approaches to policing economically motivated crimes in both the domestic and transnational context.
“A strong legal framework and regulatory bodies assist effective policing of economically motivated crime at home. Financial industry regulations are enforced and compliance is ensured in part by organizations like the Securities and Exchange Commission (SEC), Economic and Organized Crime Office (EOCO), Office of the Special Prosecutor (OSP), Financial Intelligence Centre (FIC), and the Financial Crimes Enforcement Network (FinCEN).
Criminals frequently take advantage of gaps in antiquated laws and adopt new technologies, according to him.
She also mentioned community policing and inter-agency coordination as important strategies for combating domestic economic crimes.
Engaging with local communities is essential to preventing financial crimes before they start. Building trust in the community and encouraging people to report suspicious activity helps law enforcement identify potential economic crimes, she continued.
The EOCO Boss also addressed the topic of traditional policing strategies for economically motivated crimes in a global context.