Financial Crime Investigation Process in Ghana: A Critical Examination of Current Practices

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In recent years, Ghana has witnessed a surge in fraud and corruption cases before its courts. This has led to significant delays and adjournments in tax dispute resolution and financial investigations. In this article, we will examine the current practices in financial crime investigation in Ghana and propose transformative measures to mitigate delays and enhance efficiency.

Challenges in Current Practices

The manual transcription of spoken speeches during arbitration and cross-examination of expert witnesses has led to significant delays and adjournments in tax dispute resolution and financial investigations. The slow pace of tax dispute resolution affects tax revenue mobilization as cases linger unresolved, creating uncertainties for both taxpayers and tax authorities.

• Delays in legal proceedings hinder the timely retrieval of underlying finances and related assets, further complicating investigations.
• The manual transcription process is prone to errors, leading to inaccuracies in recording proceedings.

Need for Automation

To expedite the dispute resolution process, accurate recording or transcription of proceedings at the courts is highly underscored. Automated transcription can significantly reduce unnecessary delays, allowing for smoother proceedings and reducing the likelihood of errors.

• Automated transcription tools can provide accurate and quickly accessible records, expediting the overall legal process.
• This can streamline investigations related to fraud and financial malfeasance by providing timely and accurate information.

Strengthening Dedicated Tax Courts

Considering the surge in tax dispute cases, fraud, and financial malfeasance, there is a compelling need to reinstate and strengthen dedicated tax courts. This can concentrate expertise and resources, expediting the resolution of tax-related matters.

• The judiciary is encouraged to invest in advanced transcription technologies, implementing digital recording systems and voice-to-text software to modernize the transcription process.
• Collaborative engagement between the chartered institute of taxation, Ghana, legal professionals, technology experts, and financial investigators can create a holistic approach that integrates technology seamlessly into legal proceedings.

Conclusion

Efficient tax dispute resolution and financial investigations are pivotal for tax revenue mobilization, recovery of assets, and socio-economic growth. The proposed reforms, including automation and the revival of dedicated tax courts, not only address delays but also contribute to a more transparent and conducive business environment.

• Automation, alongside the revival of dedicated tax courts, presents a promising way forward to mitigate delays, enhance efficiency, and bolster economic growth amidst the growing challenges of tax disputes, fraud, and corruption cases in Ghana.
• The potential economic benefits underscore the urgency of addressing these issues for the overall development of the nation.