BoG forwards suspected cases of suspected financial crimes to EOCO for investigations

The Bank of Ghana has forwarded a number of suspected financial crime cases to the Economic and Organised Crime Office (EOCO) for investigations.

According to the Central Bank, these include suspicious claims to the Bank of Ghana for the payment certain large sums of money purportedly remitted to them by foreign counterparties through some financial institutions.

A statement issued by the Central Bank notes that, “these claimants often attached documentation alleged to be messaging from the SWIFT international funds transfer system, as proof of the receipt and retention of their
funds by BoG.”

The Central Bank noted that following an emerging trend that it has observed over the last few years, it has since October 2020 submitted five separate requests to EOCO for investigations into claims of persons (individuals, businesses, and law firms acting on behalf of clients) who have persistently made claims on the BoG to the effect that certain large sums of money purportedly remitted to them by foreign counterparties through the banking system have been withheld by BoG.

It however noted that EOCO has made significant progress in these investigations and has initiated prosecution in some of these cases.

“These claimants often attached documentation alleged to be messaging from the SWIFT international funds transfer system, as proof of the receipt and retention of their funds by BoG. Following BoG’s preliminary investigations which have shown that these claims are fake, BoG has referred such matters to EOCO for further investigation. EOCO has made significant progress in these investigations and has initiated prosecution in some of these cases, while investigations in other cases continue,” it noted.

Source: Citibusiness