Financial Crime World

Equatorial Guinea: Confronting Organized Crime, Corruption, and Ineffective Governance

Challenges Facing Equatorial Guinea

Lack of Implementation

  • Despite ratifying international legal instruments against organized crime and corruption, the government has not fully implemented these measures.
  • The lack of implementation has hindered efforts to combat organized crime and corruption in the country.

Corruption and Money Laundering

  • There is a pervasive culture of corruption involving all levels of institutions, with officials being investigated for money laundering by foreign authorities.
  • The corrupt environment creates an atmosphere where crime and exploitation can thrive, affecting the lives of citizens.

Judicial System Issues

  • The judicial system lacks independence, with the president serving as chief magistrate and no specialized units to counter organized crime.
  • This lack of independence hampers the ability of the judiciary to effectively combat corruption and organized crime.

Human Rights Concerns

  • Prisons are overcrowded with poor conditions, and law enforcement has limited presence in major cities and rural areas, often engaging in extortion.
  • National security forces have been accused of torture and violent acts during interrogations without impunity.
  • The implementation and enforcement of anti-money laundering laws are weak, with officials being investigated for money laundering by foreign authorities.

Economic Environment

  • Equatorial Guinea is one of the worst countries to conduct business in due to pervasive corruption, risks of extortion, and onerous bureaucratic procedures.
  • This environment discourages investment and stifles economic growth, affecting the livelihoods of citizens.

Challenges Faced by Civil Society and Social Protection

Victim Support

  • Despite attempts to develop formal victim screening and referral procedures, identification and referrals to protective services remain low.
  • This creates a gap in support for victims of organized crime and corruption.

Independent Media

  • There is no independent media in the country, with censorship deeply implemented, journalists facing restrictions, and foreign journalists being denied visas to monitor elections.
  • The absence of an independent press hampers transparency and accountability in governance.