Regulatory Alerts2025-04-29
Added · Updated
NFIU Advisory on Ponzi Schemes and Unregulated Crowdfunding Updates
The Nigerian Financial Intelligence Unit issues an advisory detailing emerging patterns of Ponzi schemes, specifically focusing on digital asset-related frauds and agriculture investment scams. The document outlines specific red flags, such as unrealistic guaranteed returns, lack of regulatory licensing, and opaque business models, while providing case studies of entities like CBEX and Chinmark Group. It serves as guidance for reporting entities and competent authorities to identify and mitigate money laundering and terrorist financing threats associated with these fraudulent activities.