2022-11-24

Updated Operational Alert on Emerging Trend of Money Laundering Through Agent Banking Focus on Point of Sale (POS) Business

The regulatory authority issued an operational alert highlighting the emerging trend of money laundering through agent banking, with a specific focus on Point of Sale (POS) business activities. Financial institutions are required to file Suspicious Transaction Reports on the GoAML and RapidAML platforms to ensure compliance with reporting obligations. Additionally, entities must adhere to Nigerian sanctions updates and verify transactions against the UN Consolidated List to mitigate associated risks.

Nigeria

Nigerian Financial Intelligence Unit

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File Suspicious Transaction Reports on GoAML

File Suspicious Transaction Reports on RapidAML

Nigerian Sanctions Updates

UN Consolidated List.