Togo Cracks Down on Cross-Border Financial Crime with Launch of Specialized Enforcement Center

In a major effort to combat financial criminal activity, Togolese authorities have established a specialized center dedicated to tackling cross-border financial crime.

Introducing the Cross-Border Financial Crime Center (CBFCC)

The CBFCC was launched in 2023 and brings together federal law enforcement agencies, international partners, banks, financial institutions, and financial technology companies. This public-private partnership is designed to facilitate collaboration among these various stakeholders to disrupt and dismantle transnational criminal organizations involved in money laundering and other illicit activities.

Mission and Objectives

The center’s efforts will focus on:

• Strengthening Togo’s financial and technological sectors against illegal activity
• Enhancing communication between government agencies and private sector partners
• Disrupting and dismantling transnational criminal organizations involved in money laundering and other illicit activities

Leveraging Existing Resources

Togo’s law enforcement agency, HSI, is leveraging its:

• Cyber Crimes Center: to identify and prevent criminals from accessing international systems used to launder money and hide their illegally obtained wealth
• Trade Transparency Units: to track and monitor suspicious transactions and activities
• Bulk Cash Smuggling Center: to detect and prevent the smuggling of large amounts of cash

Significance and Impact

The launch of the CBFCC marks a significant step forward in Togo’s efforts to combat cross-border financial crime, which is a major concern for law enforcement agencies worldwide. The center’s public-private partnership approach is expected to yield significant results in disrupting criminal networks and bringing perpetrators to justice.

By working together, authorities can effectively tackle financial criminal activity and protect the integrity of the global financial system.