| | Business 
[ 2012-05-09 ] 
Ghana could lead in the fight against Money Laundering in W/A - WAIFEM The West African Institute for Financial and
Economic Management, WAIFEM says Ghana is well
positioned to lead the sub-region in the fight
against Money Laundering.
This is despite earlier reports indicting Ghana as
not duly implementing international
recommendations for combating money laundering.
According to the institute, although the menace is
increasingly becoming complex and hard to track,
financial institutions in the sub region are
responding favourably.
Speaking to JOY BUSINESS, the Director General,
Professor Akpan Ekpo cited the use of modern
digital technology by these institutions among
others.
“Both the Central Banks and Commercial Banks have
put in place new technologies to detect different
devices used in laundering money which has proved
to be quiet effective. Also is collaboration
amongst the College of Central Bank Regulators and
also with international organizations to share
best practice information to combat the menace”.
Source - Joy Business

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