Olukoyede Harps on Collaboration as Breaker of Cross Border Crimes

Olukoyede  Harps on Collaboration as Breaker of Cross Border  Crimes at Cambridge Symposium.

The global fight against cross-border economic crimes has received a significant boost with the call by the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, for enhanced collaboration among law enforcement agencies worldwide. This clarion call was made at the 42nd International Symposium on Economic Crimes held at Jesus College, Cambridge, United Kingdom, where Olukoyede emphasized the imperative of forging stronger alliances to combat the menace of cross-border economic crimes effectively.

Speaking through the EFCC's Director of Legal and Prosecution, Sylvanus Tahir, SAN, Olukoyede identified several challenges that hinder the efforts of enforcement and judicial agencies in dealing with cross-border economic crimes. These challenges include the sophistication and extensive networks of criminals, the increasing sophistication of digital technology, weak regulatory and enforcement frameworks across jurisdictions, differences in laws and regulations, and the limited capacity of law enforcement agencies. He also highlighted the difficulties in tracing, recovering, and returning proceeds of crime stashed in foreign jurisdictions, as well as the poor national identity infrastructure and limited information sharing among international law enforcement organizations.

Olukoyede underscored the critical role of collaboration in breaking down these hurdles, stating that "collaboration is the only way the world can harness its resources to deal with cross-border economic crimes as no nation is spared." He cited the EFCC's rising success in tackling economic crimes within and beyond Nigeria's borders, achieved through joint operations with international agencies like the Federal Bureau of Investigations (FBI), the Canadian Mounted Royal Police, and Interpol.

The EFCC's experiences demonstrate the potency of collaborative efforts in combating cross-border economic crimes. By working together, law enforcement agencies can share intelligence, coordinate investigations, and harmonize legal frameworks to prevent criminals from exploiting jurisdictional gaps. This approach not only enhances the effectiveness of law enforcement but also sends a strong message to perpetrators that they cannot evade justice by crossing borders.

The 42nd Cambridge International Symposium on Economic Crimes, which brought together over 1,000 participants from more than 100 countries, provides a platform for policymakers, law enforcement agencies, judges, administrators, and government functionaries to discuss pressing issues related to economic crimes. The symposium, held annually for over four decades, serves as a catalyst for fostering collaboration and cooperation among stakeholders in the global fight against economic crimes.

In conclusion, Olukoyede's call for collaboration at the Cambridge Symposium resonates with the urgent need for a unified response to the growing threat of cross-border economic crimes. By embracing collaboration as a strategic framework, the international community can pool its resources, expertise, and knowledge to combat these crimes effectively, ultimately ensuring a safer and more secure world for all.