The African Development Bank Group has signed a Letter of Intent with the International Criminal Police Organization to enhance cooperation in combating corruption, financial crime, cyber-enabled fraud, and money laundering across Africa.
According to the statement on Frida, this partnership, formalized on February 20, 2025, marks the first collaboration of its kind between a multilateral development bank and Interpol.
AfDB President Dr. Akinwumi Adesina and Interpol Secretary-General Valdecy Urquiza signed the Letter of Intent during Urquiza’s visit to the bank’s headquarters in Abidjan.
This partnership underscores a mutual dedication to safeguarding financial integrity and supporting sustainable development across the African continent.
The statement highlighted that the collaboration will focus on sharing expertise, strengthening investigative capabilities, and developing preventive measures against emerging financial crime threats, including cybercrime, anti-corruption efforts, and counter-terrorism financing.
At the signing, Adesina said, “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 editions, according to Publish What You Fund’s assessment of sovereign portfolios, we maintain zero tolerance for corruption and terrorism financing.
“By joining forces with Interpol, we are strengthening our capacity to help African countries build robust systems against money laundering and financial crime.”
Interpol’s 2024 Global Financial Fraud Assessment warns that business email compromise, romance scams, phishing, and other online frauds are increasing threats to Africa’s digital economy.
Secretary-General Valdecy Urquiza, elected in November 2024, stated, “Corruption and financial crime are among the biggest obstacles to economic and social development in Africa and around the world.
“The evolving nature of financial crime, particularly in the digital environment, requires strong partnerships between law enforcement and financial institutions. Interpol’s closer relationship with the African Development Bank Group will help law enforcement agencies and financial institutions across Africa tackle increasingly sophisticated financial crime threats.”
Adesina reaffirmed the bank’s commitment to addressing these challenges by building capacity and supporting African countries in promoting transparent governance and strong institutions for inclusive, sustainable growth.
He emphasized the importance of strengthening Know Your Customer and Due Diligence systems to prevent and combat fraud and corruption.
