U.S.$3.86 Billion Drain Pipes at the Ports and Borders

A Washington DC-based non-governmental organisation (NGO) reports from its research findings that hard currency strapped Ghana lost a colossal US$3.86 billion to import and export duty fraud at our ports and borders in the 10-year period, 2002 to 2011. According to Global Financial Integrity, a research and advocacy NGO, imports under-invoicing is used to smuggle money into the country, while exports under-invoicing is used to illegally transfer funds out. Read Full Story