EFCC Warns Bank Staff Against Aiding Fraudsters, Calls for Stronger Collaboration
Anti-Graft Agency Issues Stern Warning to Financial Institutions
The Economic and Financial Crimes Commission (EFCC) has issued a strong warning to bank account officers, cautioning them against facilitating internet fraudsters through unethical practices.
Acting Zonal Director of EFCC in Rivers State, Assistant Commander Adebayo Adeniyi, made this declaration during a meeting with bank compliance officers in Port Harcourt on Tuesday.
Key Concerns Raised by EFCC
The EFCC specifically warned against two major offenses:
- Encouraging fraudsters by helping them create multiple accounts
- Alerting customers under investigation that their accounts have been flagged
“In as much as you have to protect the bank, don’t do so at the detriment of the nation. Do not protect the bank and destroy the image of your own family and that of the society,” Adeniyi cautioned.
Call for Stronger Collaboration
The EFCC official urged financial institutions across Nigeria to strengthen their partnership with the Commission in the fight against economic and financial crimes. He emphasized the importance of:
- Conducting proper Customer Due Diligence
- Implementing robust Know Your Customer (KYC) procedures
- Maintaining ethical conduct and accountability
Adeniyi stressed that banks must remind customers about the consequences of failing to comply with due diligence and KYC principles, noting that violators would face sanctions.
Importance of Updated Records
The EFCC official highlighted the critical need for banks to maintain accurate and up-to-date customer records to facilitate investigations. “It is important to remind banks of their critical roles as major stakeholders in the fight against corruption,” he stated.
Edward Keto, a compliance officer who attended the meeting, expressed appreciation for the engagement, stating: “It is a privilege to have this kind of meeting with the Commission and it will help in dealing professionally with our customers.”
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