EFCC Charges Compliance Officers Of Banks On Diligence, Money Laundering

The Ilorin Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Monday, May 24, 2021 met with Compliance Officers of various Banks in Ilorin, charging them to be diligent in the discharge of their duties and ensure that they play active role in tackling money laundering and other fraudulent financial practices in the banking sector.

The meeting was aimed at building a better relationship between the staff of this critical unit of banks and the Commission in the fight against corruption.

The Zonal Head of the Ilorin Office of the Commission, Usman Muktar, who hosted the bank officials appreciated their support to the Commission in the delivery of its mandate, but urged them to do more.

He hinted about the creation of a Tax Fraud Desk in the Zone. According to him, “the Tax Fraud Desk in conjunction with the Special Control Unit against Money Laundering, SCUML, would greatly ease the problem of company registration currently being faced by people in the zone.”  He added that the Section would help in dealing with issues of corruption, tax evasion, illicit financial flows and money laundering within the State.

According to the him the “interface” became necessary in order to check the rising trend of cases of money laundering involving bank officials.

“There is no major fraud especially money laundering that is ever committed without the connivance of bank officials, and this must stop”, he said.

On the issue of “Know Your Customer” (KYC) and “Know Your Customer’s Business” (KYCB) the Zonal Head tasked the bankers to take the two requirements seriously as it would help to keep fraudulent customers on the radar.

Participants at the meeting assured the EFCC of their support by offering necessary information that could assist it in fighting corruption and other illicit financial transactions. 

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