Financial Crime World

Current Situation in Guinea: Organized Crime, Economic Environment, Civil Society, and Social Protection

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Organized Crime in Guinea


Guinea’s porous borders with Liberia and Sierra Leone have led to an increase in irregular movement of people and goods. This has resulted in a significant problem of money laundering due to poor record-keeping, weak law enforcement, corruption, and an informal cash-based economy.

  • Challenges:
    • Irregular movement of people and goods
    • Poor record-keeping and weak law enforcement
    • Corruption and informal cash-based economy
  • Government Response:
    • A new anti-money laundering (AML) law was passed in 2021 to combat money laundering and terrorist financing

Economic and Financial Environment


The country’s economic regulatory environment is challenged by widespread corruption and impunity within public institutions. Corruption has deeply permeated the business and political culture, leading to a reliance on bribery in transactions.

  • Challenges:
    • Widespread corruption and impunity
    • Limited access to finance
    • Inadequate infrastructure
    • Low government capacity
    • Logistics deficiencies
  • Impact on Investors: The economic challenges have undermined investor confidence, making it difficult for businesses to operate in the country.

Civil Society and Social Protection


The Guinean government has approved standard operating procedures for identifying human trafficking victims. However, only one international organization is capable of providing shelter to trafficking victims.

  • Challenges:
    • Limited resources
    • Shortage of personnel and coordination
    • Social and political unrest
    • Impact of the pandemic
  • Government Response: The government has identified an increased number of forced labor victims, including children, who are exploited in domestic servitude and sex trafficking.

Inclusivity and Civil Society


There is insufficient dialogue between the government, political stakeholders, and civil society actors. This has led to a deterioration of the sociopolitical situation.

  • Challenges:
    • Limited resources
    • Political and social unrest
    • Impact of the pandemic
    • Corruption and impunity within public institutions
    • Hostile whistleblowing atmosphere
    • Crackdown on protests and censorship of critical media outlets

Conclusion


The current situation in Guinea is marked by significant challenges in organized crime, economic environment, civil society, and social protection. Addressing these challenges will require a concerted effort from the government, civil society, and international organizations to promote inclusivity, strengthen institutions, and protect human rights.