ICC FraudNet will hold its spring conference and meeting in Accra, Ghana on

28 April, with a special focus on state capture, corruption, fraud and asset recovery in Africa.

Members and strategic partners will convene to discuss a wide range of cases and issues including the well- publicised embezzlement and fraud case involving Isabel dos Santos, once Africa’s richest woman, who is the central figure in the Luanda Leaks and daughter of former Angolan President José dos Santos.

Ghana’s Commissioner of Police, Executive Director of Economic and Organized Crime Office, Maame Yaa Tiwaa Addo-Danquah, is scheduled to give opening remarks and Hon. William Kissi Agyebeng Esq. Special Prosecutor of Ghana Ridge-Accra, Ghana, is to give the keynote address.

Members and strategic partners will also discuss corruption in Africa and examine the Common African Position on Asset Recovery (CAPAR). The CAPAR sets out the recommended measures and actions required to effectively address the continuous loss of African assets and to effectively identify, recover and manage African assets that are in, or recovered from, foreign jurisdictions, in a manner that respects the development priorities and sovereignty of Member States.

African experts will also share their views of Transparency International’s Corruption Perception Index (CPI), and why many African States are critical of the Index. The latest CPI was published recently, and showed a regional average score of 32 out of 100
marks for Sub-Saharan Africa.

According to the CPI, 44 of the 49 countries assessed still score below 50. Gains made by a few countries are outweighed by significant declines in others. This year’s CPI results underline how intertwined paths of democracy, security and development in Sub-Saharan Africa are eroded by corruption – particularly during a time of global crises, and further says that extensive funds are needed to address the consequences of economic, ecological and healthcare challenges, and they must not be lost to corruption.

A panel session to consider the Zondo Commission
will be another highlight of the FraudNet conference. The 5,000-page long report, named after its chairperson Chief Justice Raymond Zondo, exposes the looting of billions of dollars from South Africa’s state coffers, allegedly carried out under the Jacob Zuma presidency.

Other sessions during the conference will look at arbitration awards out of international institutions against African states, the Pandora Papers – where are African fraudsters likely to hide their money in terms of structure and jurisdiction, and litigation finance, among other topics.

Source : ICCFraudNet : Commercial Crime International – April 2023 

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