The Executive Director of the Economic and Organized Crime Office (EOCO), COP Maame Yaa Tiwaa Addo-Danquah (Mrs), has emphasized the importance of robust legal frameworks and regulatory authorities in combatting organized economic crimes at the national level.
COP Maame Yaa highlighted that strong legal frameworks and regulatory bodies are essential for effectively addressing economic crimes by ensuring that financial sector legislation and regulations are enforced to prevent economic wrongdoing.
She made these remarks during her presentation in Session 10 of The International Symposium on Economic Crime at Jesus College in Cambridge on September 7, 2023. The session focused on the effectiveness of traditional policing approaches in dealing with economically motivated crimes, both domestically and in a transnational context.
She noted that agencies such as 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) play crucial roles in enforcing regulations and promoting compliance within the financial industry.
COP Maame Yaa explained, “Effective policing of economically motivated crime at home is facilitated by a robust legal framework and regulatory authorities.
Furthermore, she emphasized the significance of inter-agency cooperation and community policing in addressing economic crimes at the domestic level. Engaging with local communities, according to her, is essential for preventing financially motivated crimes. Community-oriented policing helps build trust and encourages citizens to report suspicious activities, thereby assisting law enforcement agencies in identifying potential economic crimes.
In addition to discussing domestic approaches, the EOCO Director also addressed the effectiveness of traditional policing methods in dealing with economically motivated crimes in a transnational context.
