Uganda to benefit from Interpol, AfDB agreement to combat financial crime

The International Police (INTERPOL) and the African Development Bank Group (AfDB) have signed an agreement to strengthen co-operation in the fight against corruption, financial fraud, and money laundering across Africa.

The agreement, signed by INTERPOL secretary general Valdecy Urquiza and AfDB president Dr Akinwumi Adesina at the Bank’s headquarters in Abidjan, aims to enhance intelligence sharing, investigative capabilities and preventive measures against emerging financial crimes.

Uganda, a member of INTERPOL through its National Central Bureau and a beneficiary of multiple AfDB loans, stands to benefit from this collaboration as it grapples with a surge in economic crimes.

While overall crime in Uganda declined by 1.1% in 2024, financial fraud and other white-collar crimes rose by 1.6%, according to the Uganda Police Crime Report 2024.

Economic crimes on the rise

Deputy director of criminal investigations Beata Chelimo, speaking at Naguru Police headquarters in Kampala city, a fortnight ago, highlighted the troubling increase in economic crimes, including embezzlement, bank fraud, counterfeiting, and obtaining money by false pretences.

“We have seen an increase in financial fraud and forgeries. These crimes are complex and often involve highly coordinated networks,” Chelimo stated.

She noted that obtaining money, goods, or land titles by pretences remains Uganda’s most prevalent economic crime.

A total of 13,132 economic crime cases were registered in 2024, up from 12,000 in 2023.

However, the conviction rate remains low, with only 26,328 out of 81,750 cases taken to court resulting in convictions. Meanwhile, 90,663 cases remain under inquiry, and 10,333 were dismissed.

Despite the rise in financial crime, Uganda recorded an overall decline in reported crimes, with 218,715 cases in 2024 compared to 228,074 in 2023.

Theft remained the most common crime, accounting for 28% of cases, though incidents dropped by 6.6% from 65,901 in 2023 to 61,529 in 2024.

Fight against financial crime

The AfDB-INTERPOL collaboration is expected to play a crucial role in tackling financial crime, particularly as Africa loses an estimated $90 billion annually to illicit financial flows—resources that could otherwise support key sectors such as health, energy, water, and infrastructure.

The agreement is also expected to foster closer co-ordination between AfDB’s Office of Integrity and Anti-corruption (PIAC) and INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC).

The partnership will focus on intelligence sharing, capacity building, and cross-border cooperation to combat sophisticated financial crime networks.

Urquiza emphasised the significance of this initiative, stating, “corruption and financial crime are among the biggest obstacles to economic and social development in Africa.
Interpol’s closer relationship with AfDB will help law enforcement agencies and financial institutions across Africa tackle increasingly sophisticated financial crime threats.”

Adesina reaffirmed the institution’s zero-tolerance stance on corruption, adding, “this partnership demonstrates our commitment to protecting development resources and ensuring they reach their intended beneficiaries.

As the world’s most transparent financial institution for two consecutive years, according to Publish What You Fund, we are strengthening our capacity to help African countries build robust systems against money laundering and financial crime.”

Cyber-enabled fraud a growing concern

Interpol’s 2024 Global Financial Fraud Assessment warns of rising cyber-enabled financial crimes across Africa. Scams such as business email compromise, phishing, and romance baiting are increasingly targeting individuals and institutions due to rapid advancements in digital technology.

With Uganda and other African nations facing growing financial crime challenges, authorities hope the INTERPOL-AfDB partnership will provide critical support in strengthening enforcement mechanisms and safeguarding financial systems.