Fraud destroys nations faster than tornadoes – Expert 

Mr Richard Kumadoe, a Fraud Prevention Expert and Security Consultant, has described fraud as a “terrible canker capable of destroying businesses and nations faster than a tornado” if not effectively checked. 

Mr Kumadoe, speaking to the Ghana News Agency (GNA) at Sege in the Ada West District as part of the Anti-Fraud Global Campaign, stressed the need for stronger anti-fraud strategies and collective national commitment to combat corruption and financial crimes. 

He said fraud, financial crime, money laundering, and related criminal activities should not only be prevented and detected on time by anti-fraud agencies but also be abhorred and stopped at all costs. 

Mr Kumadoe noted that one of the major challenges facing state investigative and prosecution institutions was the lack of capacity to successfully handle corruption and political fraud cases without political interference and judicial delays. 

“In most cases, political fraud and related crimes should not only be seen to be investigated, but the culprits must be punished. A successful exercise of search, seizure, and confiscation of properties acquired through crime proceeds would go a long way to restore public confidence—even among young children observing society,” he said. 

He added that the absence of a deliberate national anti-fraud strategy and a strong regime for forfeiting crime proceeds such as assets and properties remained a major setback in Ghana’s fight against corruption and financial crime. 

According to him, frequent fraud and financial crime occurrences distorted economic systems, worsen inequality, and undermine the nation’s stability. 

“Fraud creates unfair credit and economic systems and worsens the plight of the less privileged. This imbalance is unhealthy for any nation,” he said. 

Mr Kumadoe urged frontline anti-fraud officers to continue exposing the negative influences of political fraud and work in collaboration with other stakeholders to prevent, detect, and deter financial crimes at all levels. 

Source: GNA

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