7 Things That Could Make You An EFCC Guest

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The Economic and Financial Crimes Commission in the last couple of months have arrested, investigated, filed suits, frozen accounts and seized properties of some notable Nigerians. If you have ever wondered what offenses could land anyone in their net, well, INFORMATION NIGERIA brings you all 7 of them in this piece.
Economic crime: An act of sabotage that affects the economy of a state or nation. For example, pipeline vandalism, illegal oil bunkering, tax evasion, etc.
Financial Crime: an act that involves the illegal use of cash or financial instruments such as cheques, drafts, money orders, etc. For example, bank fraud, issuance of dud cheques, etc.
Advance Fee Fraud (419): This is a kind of scam in which a fraudster through false pretences/deceitful information hoodwinks a person to make some upfront payment on a proposed business deal, romance, marriage, contract , etc. Offences that constitute Advance Fee Fraud and other related offences include: Offences relating to obtaining cash or property by false pretence, forgery, misrepresentation with intent to defraud using financial instruments.
Money Laundering:This is a process whereby ill-gotten wealth is transformed so that it appears legitimate.
Terrorism:This is an act of violence and/or threats to intimidate another, to attain goals that are political, ideological or religious in nature.
Cyber Crime:This is the use of a computer or other electronic device to perpetrate criminal acts. Cyber cafes have to register with the EFCC so that Commission can monitor their operations and enforce operating standards that eliminate internet crimes.
Nigerian Financial Intelligence Unit (NFIU):This is the central national agency responsible for receiving, analyzing and transmitting financial disclosures on suspicious transactions in designated and non-designated financial institutions with a duty to report to relevant authorities.
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