Financial Crime World

Consequences of Financial Crimes in Gabon Worry Experts

Gabon has long been a hotspot for various forms of financial crimes, with experts warning that these nefarious activities are having far-reaching consequences on the country’s economy and its citizens.

Human Trafficking Persists

Human trafficking is one of the most significant concerns in Gabon. The country serves as a destination market for trafficked persons from Central and West Africa, who are forced into sexual and labor exploitation.

  • Exploitation by Sector:
    • Boys: street vending, transportation, fishing
    • Girls: domestic work, markets, roadside restaurants
  • Reports of Brothel Owners Exploiting Children
  • Lack of Specialized Law Enforcement Units: The problem is exacerbated by the lack of specialized law enforcement units tasked with combating human trafficking.

Forest Crimes Widespread

Gabon’s forests are under threat due to widespread forest crimes linked to the industrial logging industry. Companies operating in this sector have been accused of bribing ministers and public servants to obtain timber concessions and avoid punishment for breaking forest laws.

  • Industrial Logging: Companies involved in industrial logging have been accused of bribing officials to secure timber concessions and avoid prosecution.
  • Illegal Timber Trade: The country is one of China’s top timber-exporting nations, with a significant volume of rosewood being illegally traded.
  • Potential Convergence with Minerals Trafficking: There may be potential convergence between timber and minerals (gold) trafficking by Cameroonian military officials.

Wildlife Crimes on the Rise

Wildlife crimes are also a major concern in Gabon. The country has seen an increase in ivory trafficking, with authorities using GPS real-time tracking collars to deter poachers.

  • Ivory Trafficking: Authorities have reported an increase in ivory trafficking.
  • Eco-Guards Facing Retaliation: Eco-guards patrolling national parks have reported cases of retaliation from perpetrators.

Money Laundering Deters Investors

The economic environment in Gabon is not conducive to setting up and operating a legitimate business due to ongoing perceptions of weak governance and high levels of corruption. Money laundering is a criminal offence in the country, but there have been no prosecuted cases.

  • Anti-Money Laundering Strategy: Gabon shares an anti-money laundering strategy with its regional counterparts under the Central Africa Monetary Union.
  • Financial Intelligence Unit: However, the Financial Intelligence Unit investigating instances of money laundering and corruption is not properly staffed, limiting its effectiveness.

Civil Society and Social Protection

Gabon has few mechanisms to help victims exit modern slavery. There are two state-funded NGO shelters offering medical, legal, housing, and other services to homeless and orphaned children who are most at risk of trafficking.

  • State-Funded NGO Shelters: Two state-funded NGO shelters provide support to vulnerable children.
  • Retaliation Concerns: However, there are strong concerns about retaliation for those wishing to report corruption as witnesses.