…other high-risk areas formed part of the wider national effort to strengthen Nigeria’s anti-money laundering and counter-financing of terrorism regime. The commission also intensified its crackdown on unlicensed bureaux de change, recording 234 BDC cases and 73 convictions within the three-year period. The objective, h…

…bank accounts, with the amounts deliberately kept low enough to evade automated anti-money laundering alerts. “The following is a case study on Crowdfunding Network identified during the year: A foreign-based facilitator runs social-media campaigns claiming humanitarian relief or educational support and uses encrypted…

…suspicious transactions and activities, as well as regulatory submissions relating to anti-money laundering, counter-terrorism financing and counter-proliferation financing compliance. It noted that it collaborates with the Central Bank of Nigeria, National Insurance Commission, Securities and Exchange Commission and t…

…move large sums of money into American financial institutions.It identified four major anti-money laundering failures and named several individuals with political ties, including Abubakar, who served as Nigeria's vice president from 1999 to 2007. It also named Equatorial Guinea's Teodoro Nguema Obiang Mangue, the famil…

…be treated as a breach of the Investments and Securities Act 2025 and the commission's anti-money laundering and counter-terrorism financing regulations. Penalties include fines, suspension and outright licence revocation.This latest directive follows an earlier round of sanctions in which the SEC subjected 10 individu…

…bank accounts linked to the Trump Organisation in 2021, saying the decision followed an anti-money laundering review and was not politically motivated, CNN alongside other multiple media reported on Monday. Capital One PUNCH Online reports that Capital One is one of the largest banks in the United States The disclosure…

…agencies and called for deeper institutional cooperation. She also advocated expanding Anti-Money Laundering and Countering the Financing of Terrorism awareness programmes to police commands and formations nationwide. Bakari stressed the need to build sustainable institutional capacity rather than rely on isolated succ…

…unnecessary regulatory restrictions. Speaking at the 3rd Africa High-Level Civil Society Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) Conference in Abuja, EFCC Chairman, Mr Olanipekun Olukoyede, said effective implementation of the Financial Action Task Force (FATF) Recommendation 8 requires targeted…

…The call was made on Wednesday in Abuja during the 3rd Africa High-Level Civil Society Anti-Money Laundering and Counter Financing of Terrorism Conference, themed “Implementing FATF Recommendation 8 Correctly: Practices, Lessons Learned and Opportunities for Reform.” The conference brought together anti-money launderin…

…data,” he said. As digital payments increasingly intersect with fraud investigations, anti-money laundering enforcement and financial intelligence, keeping sensitive transaction records within national jurisdiction becomes less about business efficiency and more about national security. He also believes industry concer…

…that includes identity verification, sanctions screening, know-your-customer (KYC), anti-money laundering (AML) controls, and Travel Rule compliance-everything regulators and central banks require to operate securely. Africa and the broader Global South present a major opportunity because many financial systems are sti…

…you should know The latest action reinforces the CBN's continued focus on strengthening anti-money laundering and counter-terrorism financing controls across the financial system. It also comes amid the apex bank's longstanding restrictions on BDC operators' access to the official foreign exchange market, reflecting co…

…globally have adopted strict standards regarding source-of-funds verification and anti-money laundering (AML) compliance. "Whatever information you provide must be backed by documentary evidence. Every claim made during the application process must be substantiated," she said. Using real estate wealth as an example, sh…