“When we talk about corruption, we think about criminal offences like official corruption, bribery and abuse of office,” ICAC Proceeds of Crime Director Dallas Henderson made this remark during the Inaugural Anti-Money Laundering and Counter Terrorism Financing and Counter Proliferation Financing Conference (AMLF/CTF and CPF) held recently at the Apec Haus, in Port Moresby.
Henderson joined the panel comprising representatives from financial institutions and government agencies to discuss the impacts of corruption on ordinary individuals, government services, and the economy.
“The consequences of corruption are significant and widespread, from direct costs to individuals and society, which encourages criminal behaviour and undermining trust in institutions,” she said.
She said misappropriation of property, money-laundering and tax evasion falls under Financial Crime and added that both Criminal Offences and Financial Crime are closely linked.
“More often than not, individuals engaged in corruption will also be committing financial crimes and will have financial crime charges alongside the corruption charges on the indictment once the law catches up with them,” she said.
“Corruption doesn’t happen in isolation.
“Those who abuse public offices are often committing other crimes such as money laundering and tax evasion. When we investigate, we don’t just look at the misconduct, we follow the money.”
“When a complaint is made to the ICAC, a dedicated team assesses the complaint to determine whether it identifies corrupt conduct. If this initial assessment finds a reasonable allegation, then the matter is referred to the commission to approve an investigation,” she said.
The ICAC’s investigation powers under the Organic Law on the ICAC (OLICAC) allows the Commission to compel individuals and institutions to produce information and documents to identify the illicit proceeds of the corrupt conduct. The ICAC then applies for and execute search warrants to obtain financial records, cash holdings, and illegally obtained assets.