The government has been called upon to take immediate action to address the issue of illegal gold mining and smuggling, which is resulting in Illicit Financial Flows (IFFs).
Speaking at the launch of a report on Illicit Financial Flows in the gold sector, a representative from the Ministry of Lands and Natural Resources, Mr Benjamin Aryee, emphasised the need for urgent action to address the issue. "Illicit Financial Flows are not acceptable, and given the research indication that it appears to be growing, it's a matter of concern for us," Mr Aryee said.
He bemoaned the informal nature of the gold sector, saying that it posed a major challenge in addressing Illicit Financial Flows in the country.
The informal nature of the sector, he stated, if not addressed properly, could hinder the fight against IFFs. "Unfortunately, we have a very large informal sector as far as the gold sector is concerned.
