Counter Fraud Center

Let’s evaluate how strong your Governance Framework is as a DNFBP!

✅ Do you have well-documented and business-specific AML/CFT Policies & Procedures?

✅ Is this set of documented AML/CFT Policies approved by the senior management?

✅ Do you have a skilled AML Compliance Officer having the necessary authority & seniority within the organisation?

✅ How effective is employee engagement in the overall AML function?

✅ Is your AML training program adequate and effective?

✅ How frequently does the Compliance Officer update the senior management with AML activities and compliance status?

✅ When was the last independent AML Audit conducted?
✅ Do you have a GAMBIT database that allows you to conduct efficient due diligence and risk assessment for your organisation?
✅ Do you have a compliance consultant like the Counter Fraud Center for your AML audit?

Please send us a message for all your regulatory compliance matters today.

As a Designated Non-Financial Business (DNFB) operating in Nigeria, such as real estates or car dealers, it is essential to engage an independent Anti-Money Laundering (AML) auditing organization like the Counter Fraud Center to review your entity's AML framework. This evaluation assesses whether your entity's AML program is sufficient to mitigate the level of risks it faces. Additionally, it examines the effectiveness of AML initiatives in preventing money laundering threats and reputational damage from regulatory institutions like the Economic and Financial Crimes Commission (EFCC). Stay informed and updated on the latest AML regulations and best practices by visiting https://www.counterfraudcenter.org/

𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐒𝐭𝐚𝐠𝐞 𝐢𝐧 𝐀𝐧𝐭𝐢 𝐌𝐨𝐧𝐞𝐲 𝐋𝐚𝐮𝐧𝐝𝐞𝐫𝐢𝐧𝐠 (𝐀𝐌𝐋)

Transaction monitoring, or business transaction monitoring, is a process used by businesses to check, analyse, and administer transactions that take place in the information system. It also helps banks and other financial institutions keep track of their clients' transactions. The main aim is to analyse the customer profile and ensure that no suspicious activity takes place.

Increasing need for data protection regulations and a lack of high-cost security solutions within the payment network infrastructure, rising demand for Identifying high-risk activities by using advanced analytics, increasing need for organizations to comply with stringent regulatory agreements, rising demand for mitigating money laundering, managing KYC compliance and CTF activities, increase in the digitization of payment transactions are some of the major as well as vital factors which will likely to augment the growth of the fraud detection transaction monitoring.

On the other hand, the integration of advanced technology such as artificial intelligence, machine learning, and big data analytics, along with the increase in the deployment of transaction monitoring systems by small and medium enterprises, will further contribute by generating massive opportunities that will lead to the growth of fraud detection transaction monitoring.

VANDALISM: Police Arrest 3 Vandals in Ogun

Operatives of Ogun Police Command have arrested three members of a syndicate that allegedly specialise in vandalising telecommunications companies mast in Ibafo area of the state. The suspects – Adeola Oyesanya, Bashiru Mohammed and Musa Mohammed were arrested following a report by a security guard attached to an MTN mast in Papa Ibafo area. The security guard reportedly said a group of thieves had invaded the site, vandalised and carted away 12 batteries valued at about N1.8 million.

A statement by the command’s Spokesman, Abimbola Oyeyemi, said following receipt of the report, the Divisional Police Officer (DPO) at Ibafo, Abiodun Ayinde quickly mobilized his anti-robbery men and moved to the scene. According to the statement, the suspects upon sighting the policemen abandoned their loot and escaped to the nearby bush. He said the area was subsequently cordoned off by the policemen and the bush was combed, leading to the arrest of the first suspect Adeola Oyesanya.

Oyeyemi hinted that Oyesanya’s arrest equally led to the arrest of the other two suspects who were said to be the receivers of stolen goods. “On interrogation, they all confessed to the commission of the crime and that they have been in the business for quite some time now, the statement said. Oyeyemi said the Commissioner of Police, Kenneth Ebrimson has ordered the transfer of the suspects to state criminal investigation and intelligence department for further investigation and prosecution.





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https://www.ccfanigeria.org/vandalism-police-arrest-3-vandals-in-ogun/

KIDNAPPING: Kidnapped Traditional Ruler Freed After Payment of N6.5m Ransom

The kidnapped traditional ruler of Rubochi in Kuje Area Council of Abuja, Alhaji Mohammed Ibrahim Pada, has been freed after the payment of N6.5 million to the kidnappers. A member of the victim’s family who preferred anonymity said the chief was released around 12noon on Saturday. He said the kidnappers, collected the ransom, in cash, before they freed the traditional ruler at a forest in a Gbawodi village in Toto Local Government Area, Nasarawa State.

Actually, they initially demanded N30 million but after intensive negotiations, they accepted N6.5 million. He said the chiefdom was quite happy that the chief was released unhurt by his abductors after being held captive for four days. Members of the traditional council of the chiefdom, village/district heads elders visited the palace to sympathise with the traditional ruler.






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https://www.ccfanigeria.org/kidnapping-kidnapped-traditional-ruler-freed-after-payment-of-n6-5m-ransom/

DRUG ABUSE: NDLEA Nabs Suspect with 1,072 kg of Indian H**p in Niger

The National Drug Law Enforcement Agency (NDLEA), Niger Command, has arrested one suspect with 1,072 kg of substances suspected to be ma*****na in Mokwa Local Government Area of the state. The NDLEA’s Commander in the state, Mrs Sylvia Egwunwoke, made this known in an interview with News Agency of Nigeria in Minna on Saturday.

Egwunwoke said the 56-year-old suspect is from Bangi village in Mariga Local Government Area. Egwunwoke disclosed that the suspect, who had just finished his jailed term on October 8 for a similar offence, was arrested following through intelligence report that the suspect was transporting the prohibited w**ds to Sokoto state.

The suspects were arrested by the command last year along Kontagora with 64kg of Indian H**p and was convicted by a court and served a one-year jail term, she said.
She appealed to members of the public to always report any suspicious activity of drugs peddlers to relevant authorities, to rid the state of drug trafficking and its attendant crises.

We have since reached out to traditional and religious leaders to mobilize residents to give relevant information on those in the illegal business in their midst.







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https://www.ccfanigeria.org/drug-abuse-ndlea-nabs-suspect-with-1072-kg-of-indian-h**p-in-niger/

FRAUD: Kaduna Councillor Remanded over N11 Million Fraud

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office has arraigned a Councillor, Theophilus Madami, on a two-count charge bordering on criminal breach of trust and obtaining by false pretence before Justice Mohammed Tukur of the State high court in Kaduna State.

The defendant, a Councillor, representing Kakuri Hausa Ward, Kaduna South Local Government, Kaduna State, was investigated when the Kaduna Office of the Commission received a petition against him. The petition was forwarded to the EFCC by Ibrahim Ringim Haruna of Pyramid Supplied Services Limited that he defrauded the company to the tune of N11, 080, 000.






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https://www.ccfanigeria.org/fraud-kaduna-councillor-remanded-over-n11-million-fraud/

SMUGGLING: 9 Suspected Smugglers Nabbed in Katsina

Nine suspected smugglers have been arrested in Katsina State while allegedly attempting to smuggle various contraband items into the country. The Katsina/Kaduna Customs Comptroller, Abdullahi Kirawa, revealed this while parading some of the items seized from the smugglers on Monday, adding that the Duty Paid Value (DPV) of the seized items was about N62m. I want to call on people to assist the Customs with useful information that will be used in confidence to check smugglers and smuggling activities that are bent on destroying the nation’s economy.

He listed the items recovered to include, 1,367 bags of rice, 295 petrol jerry cans, 297 bales of second-hand clothes, 75 new wrappers, 295 jerry can of 25 litres of vegetable oil, 53 bags of foreign sugar, 14 cartons of battery, 15 motorcycles and nine cars.






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https://www.ccfanigeria.org/smuggling-9-suspected-smugglers-nabbed-in-katsina/

DRUG ABUSE: NDLEA Arrests Woman, 3 Others over Drugs Peddling

The National Drug Law Enforcement Agency (NDLEA), Anambra State Command, has arrested one female and three male suspected drugs peddlers in the state. A statement by NDLEA spokesman for the command, Odigie Charles Efosa, said the suspects were arrested at different locations across the state with various substances suspected to be Indian h**p.
The suspects include one Mrs Blessing Ibe, arrested in Okija, Inhiala Local Government Area allegedly with Indian h**p, weighing 513 grammes. Others are: China Okpara arrested in Nibo, Awka South LGA with Indian h**p weighing 600 grams; Sunday Igilije arrested in Amawbia Awka South LGA with the w**d weighing 45 grammes and Uche Mmadu arrested in Ekwulobia, Aguata LGA with the w**d weighing 100 grams.
The spokesman said the raid would be a continuous one in the state to reduce cases of drug abuse. He urged members of the public to provide necessary information to the agency to assist in curbing the menace of drugs.







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https://www.ccfanigeria.org/drug-abuse-ndlea-arrests-woman-3-others-over-drugs-peddling/

FRAUD: Port Harcourt Lawyer Docked by EFCC for N200 Million Fraud

A Port Harcourt based lawyer, Nwabufo Richard Obienu, along with his company, Ferric Nigeria Limited, has been docked by the EFCC at a Rivers State High Court for conspiracy to commit a felony and stealing by conversion of N200million. Obienu is facing trial before Justice B.G Diepri. One of the charges reads, “that you, Barrister Nwabufor Richard Obienu while being Managing Director of African Pioneer Company Limited, sometime in the year 2010 at Port Harcourt within the jurisdiction of the High Court of Rivers State, with intent to defraud, fraudulently converted to your personal use the sum of N68,871,197.57 out of the N200,000,000 being property of African Pioneer Company Limited paid to her as compensation and thereby committed an offence.
The offence is contrary to Section 388 of the Criminal Code Law, CAP 37 Vol.II Laws of Rivers State of Nigeria 1999 and punishable under Section 390(9) of the same Law. The defendant pleaded “not guilty” when the charge was read to him. In view of his plea, the defence counsel, Ifeoma Adara moved a motion that her client is granted bail on liberal terms because he had recently undergone brain surgery.
The defendant was granted bail in the sum of N100, 000, 000.00(One Hundred Million Naira) and a surety in like sum. The surety is to swear to an affidavit of means and must also deposit four passport photographs with the court. The defendant was remanded in EFCC custody pending the perfection of his bail terms.






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https://www.ccfanigeria.org/fraud-port-harcourt-lawyer-docked-by-efcc-for-n200-million-fraud/

FRAUD: How an American Defrauded me of $145,000 – Nigerian Businessman

A Nigerian businessman, Olukayode Sodimu, on Friday told an Ikeja Special Offences Court about how an American and alleged serial conman, Marco Ramirez, defrauded him of 145,000 dollars in a green card scam. Newsmen report that Ramirez is accused by the Economic and Financial Crimes Commission (EFCC) of defrauding five Lagos-based Nigerians of $1.5 million. Ramirez faces two separate criminal suits at the Special Offences Court.
He is standing trial alongside his companies – USA Now LLC, Eagle Ford Instalodge Group LP and USA Now Capital Group. In the first suit, the American is accused of allegedly defrauding two Nigerians – Gabriel Edeoghon and Oludare Talabi of $388,838. In the second suit, he allegedly defrauded three Nigerians- Amb. Godson Echejue, Abubakar Umar and Sodimu of $1.2 million. While being led in evidence by M. F. Owede, the EFCC’s Prosecuting Counsel, Sodimu told the court that he first got to know Ramirez and his company in 2013 through an advertisement in the Guardian Newspapers for an Employment-based Fifth Preference (EB-5) American Investment programme. The advert in the paper said that USA Now LLC, is the regional centre for the EB-5 Investment Programme and that one can invest $500,000 in the investment. It stated that by investing $500,000, the investor and his children under 21-years of age will be issued a U.S. Green Card, which implies permanent residency in the U.S.
Sodimu told the court that after seeing the advert, he verified the authenticity of the programme and that he found out online that such programme exists and that he attended a seminar which was advertised in the newspapers to be holding in Eko Hotels. He presented Umar who is the second Prosecution Witness (PW2) in this case as someone who had paid his $500,000 and Umar’s process had gotten to the final stage and he was about to do his medicals. I believed him and I chose to participate. I met him several times after that day to verify his claims and make inquiries. He gave me a brochure that had some explanations and stated that had he had American Government backing for the programme. He gave me a pre-qualification questionnaire. I filled it and he took it back to the United States. I got an email from a lady he told me was his personal assistant. Based on the responses to the questionnaire I was given sets of forms and requirements I had to meet, he said.






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https://www.ccfanigeria.org/fraud-how-an-american-defrauded-me-of-145000-nigerian-businessman/