WHEN SOMEONE SPENDS FAR BEYOND THEIR REASONABLE INCOME, IT’S A RED FLAG – Twum-Boafo On Freezing Hajia4Reall’s Account
He clarified that the FIC was made aware of the person’s opulent lifestyle and peculiar financial behavior, which included throwing a lavish party at Independence Square.
“Lifestyle attracts attention. When someone spends far beyond their reasonable income, it’s a red flag,” Twum-Boafo stated on Hot Issues on TV3 monitored by MyNewsGh.
He disclosed that the organisation, in collaboration with the Bank of Ghana, asked the man and his attorneys to provide an explanation of their funding sources.
“You can’t assume that because somebody owns a business, the money is clean. We had to find out where the funds were coming from,” he added.
The head of the FIC stressed that his organisation relies on law and intelligence rather than conjecture.
“If you’re money laundering, you’re not asking for privacy,” he said, highlighting that the agency uses advanced technology and partnerships with global institutions such as the FBI and British intelligence to track suspicious transactions.
According to Twum-Boafo, the FIC’s proactive strategy guarantees prompt action before illicit funds are transferred beyond detection.
“We’ve had to up our game with cryptocurrency and other sophisticated schemes,” he said.
NKONKONSA.com
