Guinea’s Fight Against Financial Crime: A Long Road Ahead
The Challenge of Combating Financial Crime in Guinea
Conakry, Guinea - The government of Guinea has acknowledged that its efforts to combat financial crime are hampered by a lack of effective regulations and laws. In a recent meeting with international partners, officials recognized the urgent need for a comprehensive national plan to tackle transnational organized crime.
The Need for Effective Regulations and Laws
According to experts, the scale and complexity of financial crimes in Guinea require a coordinated effort from all branches of government. “We need a clear vision from the State on how to combat this phenomenon,” said Domingos Corrreia, Deputy Director of the Judicial Police. “Our laws and policies must be reviewed and updated to reflect the changing nature of financial crime.”
Key Recommendations for Combating Financial Crime
- Review and update laws and policies to address the root causes of financial crime
- Improve professional standards within combat institutions
- Enhance cooperation and coordination between agencies
- Establish civilian oversight of defense and security
Building Stronger Partnerships and Improving Data Collection
Antero Lopes, head of UNIOGBIS’ Drug Trafficking and Organized Crime Section (DTOC), emphasized that “strengthening capacities in institutions is crucial for preventing and combating organized crime.” Participants also recommended improving data collection and analysis capabilities to better understand the scope of financial crime.
The National Plan to Combat Transnational Organized Crime
The National Plan to Combat Transnational Organized Crime is currently being developed and will be implemented in conjunction with international partners. The plan aims to address the root causes of financial crime, including corruption, money laundering, and the illegal exploitation of natural resources.
International Support for Guinea’s Efforts
Guinea’s President and government have identified combating organized crime as a national priority, and the country has requested United Nations support to achieve this goal. The Strategic Framework for the Integrated Support of UNIOGBIS and UNODC was approved in June 2018 to provide strategic and technical advice and support to the government.
A Long-Term Challenge Requires Sustained Effort
The fight against financial crime in Guinea is a long-term challenge that requires sustained effort and cooperation from all stakeholders. However, with a clear national plan and international support, there is hope for progress in this critical area.