Financial Crime World

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International Cooperation Crucial in Financial Crime Investigation: Tanzanian Official

December 12, 2023 - Atlanta, Georgia

The United Republic of Tanzania emphasized the importance of international cooperation in combating financial crime and corruption at the 10th session of the Conference of States Parties to the United Nations Convention against Corruption.

Tanzanian Official’s Statement

In his statement, the Tanzanian official congratulated the President of the conference on assuming the presidency and expressed appreciation for the hospitality extended to him and his delegation by the Government and people of the United States of America.

Implementation of UN Convention Against Corruption

Tanzania reaffirmed its commitment to implementing the UN Convention Against Corruption, with a focus on continued engagement with anti-corruption agencies. The country has made significant progress in combating corruption, including hosting the commemoration of the 20th anniversary of the African Union Convention on Preventing and Combating Corruption.

Bilateral Cooperation Initiatives

The official highlighted various initiatives taken by Tanzania to strengthen its bilateral cooperation with other anti-corruption authorities and partners, including:

  • Signing memorandums of understanding
  • Developing investigative and prosecutorial instruments
  • Submitting mutual legal assistance requests related to corruption and money laundering

Legislative Measures

Tanzania has also taken legislative measures to enhance the fight against corruption, organized crimes, and money laundering by amending relevant laws and regulations.

Prevention Initiatives

The country has launched initiatives aimed at preventing all forms of corruption prior to its occurrence, including:

  • Collaboration with government institutions
  • NGOs
  • Media
  • Civil society organizations

International and Regional Cooperation

Tanzania has played an active role in various international and regional organizations dedicated to combating corruption, including:

  • International Association of Anti-Corruption Authorities
  • Commonwealth Association of Anti-Corruption Agencies
  • Others

Challenges

However, challenges persist, particularly in the area of mutual legal assistance, where delays in providing feedback on requests have been experienced. The variation in legal systems also poses a challenge in the pursuit of asset recovery.

Conclusion

In conclusion, Tanzania reaffirmed its commitment to continue cooperating and collaborating with state parties, international organizations, and other regional bodies in the fight against corruption, in accordance with international and regional instruments that it has signed and ratified.