There is no major fraud, especially money laundering, that is ever committed without the connivance of bank officials – EFCC

During an interactive session with banks’ compliance officers from Kwara and Kogi states, the commander of the Ilorin zonal command of the Economic and Financial Crimes Commission (EFCC), Michael Nzekwe, stated that there is no significant fraud in the banking sector that occurs without the involvement of bank employees. He urged bankers to familiarize themselves with their clients and their business.

“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.

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