Fraud Alert: CAFAC is Fraud!

Fraud Alert: CAFAC is Fraud!
Investigations conducted about the credentials of some of the people behind a group calling itself CAFAC (http://www.cafacghana.com), a purported anti-fraud company, which burst onto the Ghanaian scene recently are found to be fraudulent.
http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=207110
Checks conducted with Association of Certified Fraud Examiners (ACFE); http://www.acfe.com; has proved that these individuals who claimed to be CFEs are in fact not members of the Association of Certified Fraud Examiners and hence have never held the CFE credentials as they claimed in their press release. Also as a founding member of ACFE Ghana Chapter, these individuals are surely not members of ACFE Ghana Chapter and hence not representatives of ACFE in Ghana as portrayed in their press release.
ACFE Ghana Chapter is the only bona fide representative of ACFE in Ghana.
The General public is therefore warned to be wary of these individuals and their so call anti-fraud organization. Doing business with them is at one's own risk.
Thanks!
Desire Ankah,
Executive Director,
FPACC
http://www.fpacc.org

Illegal Gratuities

Illegal gratuities are similar to bribery schemes, except that something of value is given to reward a business decision, rather than influence it. For example, purchasing agents commonly are lavished with expensive vacations and other items when a vendor's contract is approved.

Conflicts of Interest

A conflict of interest occurs when an employee, manager or executive of an organization has an undisclosed personal economic interest in a transaction that adversely affects the company or the shareholders' interests. As with other types of corruption, these schemes involve the exertion of the insider's influence to the detriment of the entity.

Economic Extortion

The flip side of offering or receiving anything of value is demanding it as a condition of awarding business. This is termed "economic extortion." A typical case involves a corrupt lending officer who demands a kickback in exchange for approving a loan.

Bribery and Kickbacks

Commercial bribery is the offering, giving, receiving or soliciting of anything of value to influence the outcome of a business transaction. It typically is committed by employees such as purchasing agents who have discretion in awarding business to outside vendors.

Corruption present in all branches of Ghana gov't – US State Dept

A US State Department report for 2010 on human rights in Ghana says among other things that there is corruption in all branches of government, despite a law providing penalties for official corruption.

The report which was released April 8, 2011 and published on its website, also indicates that the Ghana government did not implement the law effectively adding “some officials frequently engaged in corrupt practices.”

The report citing the Ghana Police and judicial officials for corruption, says “Police set up barriers to extort money from motorists, and judicial officials accepted bribes to expedite or postpone cases or to “lose” records.”

According to the report, the World Bank’s most recent Worldwide Governance Indicators (2008) reflected that corruption was a problem.

In hearings in May and August, 2010 the Public Accounts Committee of Parliament uncovered numerous cases of embezzlement and misuse of funds by government ministries, departments, agencies, and district assemblies, the report says. The committee forwarded all cases to the Attorney General; however, no prosecutions had been reported at year’s end, the report said.

Referring to an investigative report by a journalist, the report said in January an undercover reporter filmed members of the Customs, Excise and Preventive Service and the Ghana Immigration Service allegedly extorting money and harassing travelers at the Ghana-Togo border crossing in Aflao, Volta Region. The officers were removed from the post, and an investigation continued at year’s end.

Source: Ghanaweb.com