By Gbenga Akingbule
The Economic and Financial Crimes Commission (EFCC) on Thursday made a special appeal journalists and Civil Society Organizations (CSOs) to partner with the Commission in combating cryptocurrency fraudsters undermining Nigeria’s financial system.
Gatekeepers News reports that the EFCC said the fight against financial crimes is not the sole responsibility of the Commission hence the needed collaboration from the media and CSOs.
The Zonal Director of the EFCC, Maiduguri Office , Aisha Habib made this known at a one day capacity building workshop for CSOs and Journalists, held at the Borno State Hotel, Maiduguri, the state capital.
Mrs. Habib stressed that the public must distinguish between legitimate and illegitimate cryptocurrency applications, warning that the EFCC will persist in blocking access to prevent fraudsters from exploiting the illegitimate route.
” There are risks and frustrationand that is why we felt it’s necessary to come and engage with you (Journalists and CSOs) and highligh the prevailing issues. As we gather here today, we recognise the importance of staying ahead
of the curve and equipping ourselves with the knowledge and tools necessary to combat financial crimes.
“This workshop is a crucial step in that
direction to share insights, practices and strategies to mitigate the risks
associated with cryptocurrencies and other emerging financial technologies.” Mrs Habib said .
In a paper titled “Understanding Cryptocurrency Fraud and Other Emerging Financial Crimes,” presented by one of the facilitators, Muawiyya Abdulkarim emphasized how fraudsters exploit cryptocurrency for money laundering, “pig butchering” investment scams, pump-and-dump schemes amongst others.
” They are scams using crypto to trick people into losing money or personal information ” pointing out that ” Crepto is exciting but risky : scammers targets the unaware but knowledge protects ” Abdulkarim said .
