The African Financial & Economic Crimes Academy represents the most promising advance in years in the fight against financial and economic crime in Sub-Saharan Africa.
This exciting new project seeks to transform the region’s ability to tackle such crimes, by directly addressing its single most fundamental shortcoming.
It will dramatically increase the number of people, at all levels and over a broad front, with the practical skills needed to deter and detect a wide range of financial and economic crimes.
The Academy will also greatly strengthen relevant local institutions, promote more context-specific skills and procedures, and facilitate more effective cross-border collaboration.
Months of behind-the-scenes groundwork have culminated in exceptional local and international support for this independent, public-private sector resource, based on a proven business model and guided by some of the best minds and most experienced figures in this field.
Very few projects, in any field, have the potential to contribute so significantly to the security, stability and prosperity of Sub-Saharan Africa.
A vital resource for Africa's security and prosperity
HOW IS IT DIFFERENT ?
There is currently no remotely similar facility.
A variety of entities do already provide training in one or more aspects of FEC, but they are limited in number, their mandates are mostly very limiting, and standards are highly variable.
The Academy’s unique features include:
Regional: focused on Sub-Sahara and tailored to its needs and circumstances.
Independent: unconstrained by national, political or commercial interests.
Integrated: linking the various types of offences and different stages of tackling them.
Scalable: using a hub-and-spoke model to maximise reach and impact.
Realistic: dealing with both operational and governance issues.
Sustainable: cross-subsidising activities to maintain continuity.
“Sophisticated financial crimes all invariably have ‘insiders’ at the point of design as well as implementation, and may go undetected for years. Investigating them can take even longer. The only way to thwart them is to develop - on a much greater scale than at present - the skills and procedures needed to prevent them in the first place. As some eminent authors have observed, a fence at the top of the cliff is better than an ambulance at the bottom.”
- Hon Chief Justice (ret'd) Barnabas Samatta, Chairman, The African Financial & Economic Crimes Academy