Report flags potential money laundering, terrorist financing risks among Ghana’s NGOs

A recent report has raised concerns about potential money laundering and terrorist financing risks associated with non-governmental organisations (NGOs) in Ghana. According to the Global Organised Crime Index, these NGOs may be at risk due to gaps in the enforcement of financial crime laws. The report highlights that non-profit organisations and cash-based operations from designated businesses and professions can pose such risks.

The assessment, partly funded by a grant from the United States Department of State, does not name any specific NGO or describe a particular case involving an organisation. Instead, it notes that the risks lie within the sector itself and not in the general practice of NGOs. The US Department of State emphasizes that the opinions, findings, and conclusions in the report are those of the authors and do not reflect the views of their organization.

The report comes at a time when there are growing concerns over the effectiveness of Ghana's anti-money laundering (AML) framework. Despite efforts to strengthen AML laws, the report underscores significant gaps in enforcement. It points out shortages of specialist personnel, including investigators and prosecutors trained in AML, as well as the absence of certified financial crime investigators who specialize in asset forfeiture.

In addition to NGOs, the report also flags cash-based business operations as another area of potential exposure. It notes that criminals are increasingly using digital payment methods such as bitcoin, gift cards, and other online exchanges to launder money.