The Attorney General and Minister of Justice, Godfred Yeboah Dame, has called for stronger global cooperation in the fight against cross-border economic and financial crimes.

Delivering a keynote address at the 41st Cambridge Economic Crime Conference held at Jesus College, University of Cambridge, UK, from September 1 to 8, he urged key actors to unite to tackle the growing menace.

“With organised financial and economic crimes on the rise, the ultimate goal of prosecution should be to identify and trace the assets criminals have obtained through illicit activities,” Mr Dame said.

He stated the survival of the global community hinges on effective collaboration between justice partners to combat economic crimes and disrupt criminals’ sources of income.

The Attorney General highlighted that asset tracing is inherently international and multi-jurisdictional, and must consider the unique challenges of different continents and regions.

He noted that Africa's experience with regional integration adds complexities to curbing illicit financial flows and the concealment of assets.

"While the Africa Continental Free Trade Area (AfCFTA) presents a tremendous opportunity for Africa to showcase its potential and entrepreneurial spirit, it also introduces new challenges for law enforcement," Mr Dame explained.

"These challenges include migratory issues, corruption within the context of AfCFTA, money laundering, and environmental concerns. The need to enhance international cooperation in confronting financial and economic crimes cannot be overstated."

The Attorney General urged African nations, many of which are signatories to international conventions like the United Nations Convention Against Corruption (UNCAC) and the African Union Convention on Preventing and Combating Corruption, to leverage these agreements to facilitate cross-border cooperation in asset recovery.

"Our survival as a global community depends on the efficiency of our cooperation," Mr Dame continued.

"The world can only develop an effective response to the dangers posed by economic crime through coordinated efforts based on cooperation among criminal justice partners and the private sector."

He further stressed that criminals exploit differences between countries to further their objectives, enrich their organizations, and evade detection.

“They gain influence in government, politics, and commerce through corrupt means. This summit is crucial for reinforcing global cooperation between countries that have had assets stolen and those where these assets are hidden."

"Law enforcement officials on both sides must ensure the return of illicit funds to their countries of origin. Free international data sharing is essential to combat cross-border economic crime,” Mr Dame concluded.

The event brought together Attorneys General, senior judicial officers, politicians, law enforcement heads, and academics from around the world.