COP Maame Yaa Tiwaa Addo-Danquah (Mrs), the Executive Director of the Economic and Organised Crime Office (EOCO) has noted with concern the increasing sophistication of fraudulent activities, which is appearing regularly.
“We are facing fraud schemes that are constantly evolving. Each day, we see criminals adapting to and even anticipating the systems we put in place to stop them. This makes our job not only reactive, but also one of constant innovation,” she said.
Speaking to public sector leaders at a Seminar organised by the Conference of Association of Certified Fraud Examiners in Accra recently, COP Tiwaa said one of the core challenges her outfit was facing was limited resources available for effective prevention.
“Preventing and detecting fraud requires considerable resources – technology, skilled personnel, training but unfortunately our budgets don’t always allow us the flexibility we need. It’s a significant hurdle and one we must work to overcome with strategic partnerships and support,” she said.
Madam Tiwaa also highlighted the risk of insider threats, a vulnerability that organisations rarely expect, but one that can have profound impacts when it occurs.
“Insider threats are particularly challenging because we are talking about people within the system – our own employees or trusted partners – who know exactly where the vulnerabilities are. These individuals have access and insight that external actors simply do not.
“In an increasingly globalised world, cross-border fraud schemes have also become a serious concern with criminals exploiting regulatory gaps between nations to evade detection. Globalisation, while beneficial in many ways, has opened up new avenues for financial crime. Fraudsters can operate from virtually anywhere in the world, making it crucial for us to collaborate with international agencies to track and prevent cross-border fraud.”
According to her, another obstacle was balancing security measures with user experience, especially as citizens expect more accessible and seamless services.
“We want to protect our systems, but we also want to ensure that the user experience is not compromised. It’s a delicate balance,” she said, noting that achieving this balance often requires advanced technology and continual system refinement.
COP Maame Yaa emphasised the need for constant staff training as a way to close knowledge gaps that fraudsters could exploit.
“Our staff members are our first line of defense, yet many lack the awareness to recognise and respond to potential fraud,” she stated.
“Training and continuous education are critical to empowering our employees to safeguard against fraud, even if unintentionally.”
