The Economic and Organised Crime Office (EOCO) has announced a major breakthrough in its fight against financial crimes, becoming one of the few institutions in West Africa to receive a licence for forensic cryptocurrency investigations.
Speaking at a press conference in Accra on Tuesday, July 15, Executive Director of EOCO, Raymond Archer, disclosed that the Office has successfully completed what is believed to be the first crypto fraud investigation and asset recovery of its kind on the continent.
“For us, as we have stated, this is to detect, this is to investigate, this is to prosecute, and not just prosecute, also to deny the perpetrators the proceeds of their crime. And crimes are sophisticated these days. People are making money and buying crypto,” he said.
Archer further disclosed that EOCO has made a major breakthrough in its use of forensic tools to address virtual asset fraud.
“We’re happy to also announce that EOCO has now one of the few licences in West Africa for forensic crypto investigations,” he revealed.
Highlighting the impact of the development, he added, “We have actually successfully, I think for the first time in Africa now, investigated, confiscated, and [are] about to return the proceeds of crypto fraud back to the country.”
EOCO’s move into cryptocurrency forensics marks a significant milestone in Ghana’s fight against financial crime, as virtual assets become a growing target for fraud and money laundering.
Source: Starrfm.com.gh
