Economic and Financial Crimes Commission, EFCC in its bid to check the increasing incidence of fraudulent withdrawals and use of pre-registered SIM cards to open wallet accounts, has met with representatives of telecommunications and financial technology companies (fintechs).
Its Spokesperson, Wilsom Uwujaren, said in a statement in Abuja, that the meeting was held in Kano, and that the commission urged the operators to put in place measures to detect and report suspicious transactions to law enforcement agencies.
He reported the Zonal Commander, Farouq Dogondaji, as stressing that the impetus for the engagement was the commission’s concern about increase in a pattern of fraudulent activities.
Dogondaji said that the pattern clearly showed that fraudsters were gravitating towards Fintechs because of some observed vulnerabilities.
Head of Cyber Crime Section of the Kano Command, Musa Olalekan, disclosed that 90 per cent of the cases received by the command bordered on fraudulent withdrawals, and were mostly traced to wallet accounts of fraudsters.
