Financial Crime World

Equatorial Guinea’s Struggle with Corruption and Organized Crime

Introduction

Equatorial Guinea has been a long-standing concern for international organizations and governments due to its inadequate performance in addressing corruption and organized crime. Despite having ratified key international legal instruments against these issues, the country continues to struggle with implementing effective measures.

Key Challenges

  • Equatorial Guinea has ratified international legal instruments against organized crime, but implementation is lacking.
  • The country’s legal framework does not fully address corruption and organized crime.

2. Criminal Justice System

  • The judicial system in Equatorial Guinea is not independent, with the president serving as chief magistrate.
  • There are no specialized units to counter organized crime within the country’s law enforcement agencies.

3. Enforcement

  • Anti-corruption laws in Equatorial Guinea are not effectively enforced.
  • Foreign authorities have investigated officials for money laundering and corruption, but there have been no successful prosecutions by Equatoguinean individuals.

4. Economic Environment

  • Implementation and enforcement of anti-money laundering laws are weak in Equatorial Guinea.
  • International law enforcement cooperation in relation to money laundering is also weak.

5. Civil Society and Social Protection

  • The government has attempted to develop formal victim screening and referral procedures for human trafficking victims, but identification and referrals remain low due to a lack of coordination and independent NGOs.
  • Civil society activists often face intimidation, harassment, and reprisals for their work on human rights-related issues.

6. Media Freedom and Human Rights

  • The media landscape in Equatorial Guinea is restricted, with censorship deeply implemented.
  • Civil society activism is often met with intimidation, harassment, and reprisals.

7. Foreign Assistance

  • Foreign assistance programs by the World Bank and the IMF have been cut since 1993 due to corruption and mismanagement.
  • This indicates a weak economic regulatory capacity by the government of Equatorial Guinea.