GoldBod, EOCO team up to track illicit financial flows in gold trade

The Ghana Gold Board (GoldBod) and the Economic and Organised Crime Office (EOCO) have initiated a joint initiative aimed at monitoring and curbing illicit financial flows within Ghana's gold trading industry. This partnership, funded by the United Kingdom Ghana Gold Programme (UKGGP), has transitioned into its operational stage following a preliminary technical discussion between the two organizations.

The collaboration aims to establish a system for exchanging intelligence, surveillance, and coordinated responses to dubious financial activities related to gold trading. GoldBod's Deputy Chief Executive Officer confirmed the Board's dedication to cooperating with EOCO to ensure gold transactions adhere to both national and global regulations.

"We give full support to management and look forward to ensuring that the gold trade is conducted in compliance with local and international standards. These frameworks are from credible sources and are traceable," the Deputy Chief Executive Officer stated. Felix Mawulolo Amegashie, EOCO's Head of Investigations, emphasized the significance of gold to Ghana's economic landscape and highlighted that the partnership will enhance the institutions' awareness of financial transactions within the sector.

His goal, with the assistance of EOCO, is to maintain the "sanitisation" of Ghana's gold trade, while the UKGGP offers technical support and international best practices to enhance transparency and responsible sourcing in the gold sector.