GUARDIAN
The Economic and Financial Crimes Commission (EFCC) has warned financial institutions and compliance officers to be diligent and avoid being complicit in financial practices.
The commission issued the warning during a meeting held with banks’ compliance officers from Kwara and Kogi States in Ilorin.
Mr Michael Nzekwe, the Zonal Commander of the Ilorin Zonal Command of EFCC, identified the role of banks compliance officers as key to the fight against economic and financial crimes.
Nzekwe said that the meeting was aimed at building stronger relationship between the staff of banks and the commission in the fight against corruption.
We invited you here today to nourish our existing relationship, educate ourselves on the new trends in cybercrime and seek areas of further collaboration as stakeholders in the fight against economic and financial crimes in Nigeria.
“On the issue of ‘Know Your Customer (KYC)’ and ‘Know Your Customer’s Business (KYCB)’, we advise that as bankers, you carry out due diligence and know your customers.
“By doing this, you save yourselves from trouble and make our job easier and it would help to keep fraudulent customers on the radar.
“There is no major fraud especially money laundering that is ever committed without the connivance…
