Proceeds of Crime and the Havoc it is Causing to Legitimate Business in Cameroon

Prof. Galega Samgena D; Akuhfa Harriette

Title:
Proceeds of Crime and the Havoc it is Causing to Legitimate Business in Cameroon

Authors:
Akuhfa Harriette | Prof. Galega Samgena D

Cite This Article :

Akuhfa Harriette | Prof. Galega Samgena D "Proceeds of Crime and the Havoc it is Causing to Legitimate Business in Cameroon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1, December 2019, pp.839-846, URL: https://www.ijtsrd.com/papers/ijtsrd29758.pdf

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Abstract :
The business arena in Cameroon is facing a lot of challenges. Amongst them is the influx of illicit money. The attendant consequence, being a high probability of chasing out legitimate businesses; and their proprietors from the Cameroonian market. This problem is made worst by the fact that those involved are politically exposed persons ; whom because of the corrupt nature of the country and a highly centralised government wield a lot of power ; thus weakening the existing legal framework put in place to check embezzlement and money laundering.This paper is meant to create awareness on the damaging effects of these illegal practices on our economy. This will enable law makers to design a legal framework with measures capable of preventing the flow of such illegitimate funds into the country’s economy. Only such a move can create a conducive and healthy arena for doing business in Cameroon. One where there can be positive competition that can boost growth in an economy. Businesses run for the purpose of laundering money are unstable and do not help the economy in any way.

Keywords :
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Publication Details:

Unique Identification Number : IJTSRD29758

Published In : Volume-4 | Issue-1, December 2019

Page Number(s) : 839-846

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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