Regulatory Alerts2022-11-24
advisory On Kleptocracy And Public Corruption In Nigeria
The Nigerian Financial Intelligence Unit (NFIU) has issued an advisory on kleptocracy and public corruption in Nigeria. The advisory highlights the various forms of public corruption, including bribery, abuse of trust, embezzlement, and fraud. It also identifies several red flag indicators to assist financial institutions and the general public in detecting suspicious transactions associated with kleptocracy and public corruption. The NFIU aims to guide Reporting Entities and Competent Authorities on observable trends and patterns to mitigate AML/CFT/CPF threats.