Financial Crime World

Equatorial Guinea: Weak Governance and Corruption Fuel Organized Crime

The State of Leadership and Governance

Equatorial Guinea’s leadership has been marked by President Teodoro Obiang Nguema Mbasogo’s rule since 1979. He is one of Africa’s most brutal dictators, with a history of human rights abuses and suppression of dissent. The government’s lack of accountability is evident in its failure to prosecute or convict any human-trafficking suspects.

  • Embezzlement and Corruption: Embezzlement of public funds, fraud, and corruption are rampant throughout the country.
  • Impunity for Human Rights Abuses: The government has failed to hold officials accountable for their actions, perpetuating a culture of impunity.

Challenges in Criminal Justice and Security

The judicial system is not independent, and there are no specialized units to counter organized crime. This lack of expertise leaves the country vulnerable to criminal activity.

  • Limited Police Presence: Police have a limited presence in major cities and rural areas, often engaging in extortion.
  • National Security Forces Accused of Torture: National security forces have been accused of torture and violence during interrogations, with impunity.

Economic and Financial Environment

While the exploitation of oil and gas reserves has driven strong economic growth, the country’s economy is vulnerable to fluctuations in global oil prices and declining production.

  • Weak Anti-Money Laundering Laws: Anti-money laundering laws are weakly implemented, and officials have been investigated by foreign authorities for money laundering and corruption.
  • Declining Economic Growth: The economy has declined due to fluctuating oil prices and decreasing oil production.

Civil Society and Social Protection

The government’s efforts to identify potential victims of human trafficking are weak, and protection efforts are extremely poor. Anti-trafficking legislation imposes an obligation on the government to provide services and provisions to victims, but they do not do so, placing the burden on NGOs.

  • Lack of Government Support: The government does not provide adequate support to victims of human trafficking.
  • NGO Burden: Non-governmental organizations (NGOs) bear the responsibility for providing aid to victims.