Regulatory Alerts2025-04-01
Money Laundering and Terrorist Financing Risk Assessment of the Nigerian Casino Sector 2022–2024
The Special Control Unit Against Money Laundering (SCUML) issued this assessment to evaluate money laundering and terrorist financing risks across Nigeria’s land-based and online casino sectors. The report classifies the sector as medium risk overall, identifying online platforms as the highest exposure due to greater anonymity and accessibility. It requires regulators to harmonize state-level AML/CFT frameworks, enforce risk-based customer due diligence and transaction monitoring technologies, and impose structured penalties for non-compliance, particularly regarding Suspicious Transaction Report filings.
Share