Regulatory Alerts2023-06-21
Added · Updated
Assessment of Money Laundering Typologies from Corruption in Nigeria
The Nigerian Financial Intelligence Unit publishes a report assessing money laundering typologies derived from corruption, analyzing illicit financial flows, and reviewing the legal and institutional frameworks in Nigeria. The document details corruption risks in sectors such as ports, water resources, health, and education, while identifying specific typologies including laundering by politically exposed persons, through undeclared assets, and via legal persons. It outlines red flags, challenges in enforcement, and recommendations to strengthen the country's anti-money laundering and counter-terrorist financing measures.