The Akufo-Addo administration has re-affirmed Ghana’s commitment to fight money laundering, terrorism financing, proliferation and other transnational crimes by collaborating with ECOWAS member states. Finance Minister, Ken Ofori-Atta, made the observation when he delivered the keynote address at the opening ceremony of a training workshop organised by the Financial Action Task Force (FATF) and Inter-Governmental … Read more
Ghana has been cited as one of the countries in the world where money laundering activities grew in 2016 and has recorded two money laundering convictions in the same year, a recent report from the US State Department has said. The International Narcotics Strategy Report found that although Ghana’s Anti-Money Laundering Law (AML), is largely … Read more
Finance Minister, Ken Ofori-Atta, has said as part of the government’s commitment to fighting corruption, the criminal code will be amended to move corruption offenses from a misdemeanor to a felony. Presenting the 2017 Budget, dubbed ‘Asempa Budget’ on the floor of Parliament on Thursday, the Finance Minister said making corruption a felony will deter … Read more
Spain’s Princess Cristina, the 51-year-old sister of King Felipe and sixth in line to the throne, has been cleared in a tax fraud trial. However her husband, Inaki Urdangarin, was given a six-year-and-three-month jail term by the court in Majorca. Urdangarin was accused of using his royal connections to generate business income used for private … Read more
Only five banks out the 30 have transferred their records to the Public Records and Archives Administration (PRAAD) as required by the law. They are namely, Ecobank Ghana, Standard Chartered Bank Limited, Stanbic Bank, Bank of Africa and the Universal Merchant Bank. A source at the PRAAD told the GRAPHIC BUSINESS in Accra, that the … Read more
The latest news coming from Ghana my motherland is that, President Akufo-Addo has settled on lawyer Akoto Ampaw as the first person to fill the position of Independent or Special Prosecutor. Sources within the corridors of power have been talking about the respected lawyer. He is said to have defended media freedom and many people … Read more
The third generation of the Ghana Customs Management System (GCMS 3) will be rolled out in the first quarter of this year. The move, which is being powered by the Ghana Community Network (GCNET) will provide a tighter revenue generation systems to the Customs, Excise and Preventive Service (CEPS). It is part of efforts to … Read more
The Minority in Parliament is accusing the Chairman of the Appointments Committee of Parliament of behaving like an “autocrat” during proceedings. Wa Central MP Rashid Pelpuo levelled the charge against Joe Osei Owusu following a fracas between the First Deputy Speaker and his colleague member of the Appointments Committee, Alhassan Suhuyini, of the Minority side … Read more
A 33-year-old outsourced worker of Stanbic Bank Ghana has been declared wanted by the Ghana Police Service for allegedly defrauding scores of customers of the bank of more than GH¢900,000. The suspect, Martha Amakye, who is said to be an outsourced worker from Noswall Management Service, a recruitment agency, absconded after the Financial Crime Control … Read more
Well the elections in Ghana have at long last come and gone. Ghana has survived and put to shame all the naysayers and dooms-day predictors. Post-election however there is this interesting phenomenon that is of interest to my organization – Corruption and Fraud Audit Consortium (CAFAC) of Ghana – and that is: What to do … Read more
Cristiano Ronaldo declared income of over 225 million euros in 2015, including 20 million euros held in 22 Swiss bank accounts, a Spanish newspaper reported Sunday as the Real Madrid star battles accusations of tax evasion. The Portuguese international earned 203.7 million euros outside of Spain and 23.5 million inside the country, according to a … Read more
A bill that seeks to, among other things, decriminalise drug addiction and use is currently before Parliament for consideration and approval. he Narcotic Control Commission Bill, 2015, which went through the Second Reading in Parliament yesterday, has proposed the decriminalisation of drug use and addiction. As a result, drug use and addiction would no longer … Read more
“Sadly, the compliance level of the oil and gas exploration and production companies in payment of levies and taxes is very low and in fact, pitiable,” contained in a letter Governor Henry Seriake Dickson of Bayelsa State personally wrote to President Muhammadu Buhari and Vice President Yemi Osinbajo (SAN), dated April 18, 2016. There are … Read more
A tax evasion amnesty in India has prompted tens of thousands of people to declare more than $9.5bn (£7.3bn) in undeclared income and assets. Finance minister Arun Jaitley said the four-month window that ended on Friday brought in 64,275 declarations. All were offered immunity from prosecution in return for paying tax, a surcharge and a … Read more