Beware, money really is the root of all evil

WITH the 2017 election here, the looming of huge of amount of corrupt money from politicians and their cronies to capitalise and manipulate the election process is highly likely.
The main evil of these corrupt activities is the greed for money.
The Bank of Papua New Guinea’s (BPNG) Financial Analysis and Supervision Unit (FASU) must
play a proactive role to ensure
that the four commercial banks strictly comply with the legal requirements of the PNG Proceeds of Crime Act 2015 (POCA) to eradicate election fraud and corruption by the Politically Expose Persons (PEP), close cronies or associated companies.
If certain large transactions pose significant risk of election corruption and fraud, the PEP in the likes of an individual or company
must be asked to fill in a “Cash Declaration Form” to justify the genuineness of each withdrawal or deposit.
Suspicious accounts must be frozen.
The BPNG directive should also enforce the four Commercial Banks including other remittance service providers to strictly monitor large amount of money remitted from offshore foreign bank accounts must be filtered.
Sources of funds as donations by major constructions companies, law firms, real estate companies, consulting firms and etc., to PEP’s during the eve of election period must be declined at all cost.

Anti-corruption Fighter
Port Moresby