Multinational tax evasion and money laundering: examining the financial investigation system in Ghana

Emmanuel Ofori and Maxwell Oduro Appiah

Journal of Money Laundering Control, 2025, vol. 28, issue 2, 442-462

Abstract: Purpose - This study aims to examine the financial investigation system in Ghana in relation to tax evasion and money laundering practices among multinational corporations (MNCs). Design/methodology/approach - The study adopted the qualitative case study design. The population was 15 officials, comprising 14 highly qualified tax enforcement and anti-money laundering officers from key state agencies, as well as a tax consultant. The data was gathered using a semi-structured interview and analysed thematically. Findings - The study found that there is an effective financial investigation system in Ghana that regulates tax evasion and money laundering practices among MNCs; however, more can be done to perfect the system. There is an effective collaboration among financial investigation agencies in terms of intelligence sharing, although it is often marred by bottlenecks and unnecessary bureaucracies. Finally, there was no consensus that the financial investigation system in Ghana has helped to prevent/retrieve the proceeds of tax evasion and money laundering among MNCs. The study concludes that Ghana’s financial investigation system is well-placed to deal with tax evasion and money laundering practices among MNCs. Notwithstanding, there is room for improvement. Research limitations/implications - This study only focused on the financial investigation system in Ghana in relation to tax evasion and money laundering practices among MNCs. It did not give attention to other entities, individuals or crimes. Originality/value - The study offers an inside perspective into the financial investigation system in Ghana in relation to tax evasion and money laundering among MNCs. To the best of the authors’ knowledge, no study of this nature has been conducted in Ghana or elsewhere.

Keywords: Financial investigations; Ghana; Money laundering; Multinational corporations; Rational choice theory; Tax evasion (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-09-2024-0150

DOI: 10.1108/JMLC-09-2024-0150

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