Counter Fraud Center

𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐒𝐭𝐚𝐠𝐞 𝐢𝐧 𝐀𝐧𝐭𝐢 𝐌𝐨𝐧𝐞𝐲 𝐋𝐚𝐮𝐧𝐝𝐞𝐫𝐢𝐧𝐠 (𝐀𝐌𝐋)

Transaction monitoring, or business transaction monitoring, is a process used by businesses to check, analyse, and administer transactions that take place in the information system. It also helps banks and other financial institutions keep track of their clients' transactions. The main aim is to analyse the customer profile and ensure that no suspicious activity takes place.

Increasing need for data protection regulations and a lack of high-cost security solutions within the payment network infrastructure, rising demand for Identifying high-risk activities by using advanced analytics, increasing need for organizations to comply with stringent regulatory agreements, rising demand for mitigating money laundering, managing KYC compliance and CTF activities, increase in the digitization of payment transactions are some of the major as well as vital factors which will likely to augment the growth of the fraud detection transaction monitoring.

On the other hand, the integration of advanced technology such as artificial intelligence, machine learning, and big data analytics, along with the increase in the deployment of transaction monitoring systems by small and medium enterprises, will further contribute by generating massive opportunities that will lead to the growth of fraud detection transaction monitoring.

KIDNAPPING: Kidnapped Traditional Ruler Freed After Payment of N6.5m Ransom

The kidnapped traditional ruler of Rubochi in Kuje Area Council of Abuja, Alhaji Mohammed Ibrahim Pada, has been freed after the payment of N6.5 million to the kidnappers. A member of the victim’s family who preferred anonymity said the chief was released around 12noon on Saturday. He said the kidnappers, collected the ransom, in cash, before they freed the traditional ruler at a forest in a Gbawodi village in Toto Local Government Area, Nasarawa State.

Actually, they initially demanded N30 million but after intensive negotiations, they accepted N6.5 million. He said the chiefdom was quite happy that the chief was released unhurt by his abductors after being held captive for four days. Members of the traditional council of the chiefdom, village/district heads elders visited the palace to sympathise with the traditional ruler.






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https://www.ccfanigeria.org/kidnapping-kidnapped-traditional-ruler-freed-after-payment-of-n6-5m-ransom/

FRAUD: Kaduna Councillor Remanded over N11 Million Fraud

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office has arraigned a Councillor, Theophilus Madami, on a two-count charge bordering on criminal breach of trust and obtaining by false pretence before Justice Mohammed Tukur of the State high court in Kaduna State.

The defendant, a Councillor, representing Kakuri Hausa Ward, Kaduna South Local Government, Kaduna State, was investigated when the Kaduna Office of the Commission received a petition against him. The petition was forwarded to the EFCC by Ibrahim Ringim Haruna of Pyramid Supplied Services Limited that he defrauded the company to the tune of N11, 080, 000.






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https://www.ccfanigeria.org/fraud-kaduna-councillor-remanded-over-n11-million-fraud/

SMUGGLING: 9 Suspected Smugglers Nabbed in Katsina

Nine suspected smugglers have been arrested in Katsina State while allegedly attempting to smuggle various contraband items into the country. The Katsina/Kaduna Customs Comptroller, Abdullahi Kirawa, revealed this while parading some of the items seized from the smugglers on Monday, adding that the Duty Paid Value (DPV) of the seized items was about N62m. I want to call on people to assist the Customs with useful information that will be used in confidence to check smugglers and smuggling activities that are bent on destroying the nation’s economy.

He listed the items recovered to include, 1,367 bags of rice, 295 petrol jerry cans, 297 bales of second-hand clothes, 75 new wrappers, 295 jerry can of 25 litres of vegetable oil, 53 bags of foreign sugar, 14 cartons of battery, 15 motorcycles and nine cars.






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https://www.ccfanigeria.org/smuggling-9-suspected-smugglers-nabbed-in-katsina/

DRUG ABUSE: NDLEA Arrests Woman, 3 Others over Drugs Peddling

The National Drug Law Enforcement Agency (NDLEA), Anambra State Command, has arrested one female and three male suspected drugs peddlers in the state. A statement by NDLEA spokesman for the command, Odigie Charles Efosa, said the suspects were arrested at different locations across the state with various substances suspected to be Indian h**p.
The suspects include one Mrs Blessing Ibe, arrested in Okija, Inhiala Local Government Area allegedly with Indian h**p, weighing 513 grammes. Others are: China Okpara arrested in Nibo, Awka South LGA with Indian h**p weighing 600 grams; Sunday Igilije arrested in Amawbia Awka South LGA with the w**d weighing 45 grammes and Uche Mmadu arrested in Ekwulobia, Aguata LGA with the w**d weighing 100 grams.
The spokesman said the raid would be a continuous one in the state to reduce cases of drug abuse. He urged members of the public to provide necessary information to the agency to assist in curbing the menace of drugs.







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https://www.ccfanigeria.org/drug-abuse-ndlea-arrests-woman-3-others-over-drugs-peddling/