Tax administrators and law enforcement agencies from sub-Saharan African countries today vowed to support the war against financial crimes that are undermining the continent’s economic progress.
The custom officials and forensic experts who met in Nairobi for training said that capacity development, advanced technology and robust multi-agency coordination was key to win the war against illicit financial transactions.
In his comments on the anti graft war generally, the Commissioner in charge of Investigations and Enforcement Department at Kenya Revenue Authority (KRA) David Yego, said: “As a continent, we require an adequate skills set, better understanding of law and modern forensic tools to help unearth and prosecute criminals involved in illicit financial flows.”
Yego said Kenya was committed to halt illicit financial flows that had escalated against a backdrop of weak policing, incoherent legal framework and under-investment in forensic technology.
“We are dealing with a host of financial crimes like any other rising economy and have gradually stepped up the momentum to minimise their negative impacts in our society,” Yego said.
In his remarks at the forum, a Programme Manager at OECD, Juergen Leske, said that the battle against financial crimes in Africa should be accelerated in order to improve the investment climate and living standards of ordinary citizens.
He said: “Highly trained and equipped customs, forensic and judicial officers will help curb illicit financial flows that have denied African countries funds required to develop infrastructure and provide essential services like health and education.
The 11-day training, which had in attendance 48 participants from 18 African countries, seeks to equip them with skills to conduct investigations leading to arrest and prosecution of cartels linked to financial scams like money laundering, tax evasion and bribery.
It is estimated that Africa loses an estimated 50 billion U.S. dollars annually due to illicit financial flows that had worsened poverty, insecurity and social upheavals on the continent.
