REALNEWS 11TH ANNIVERSARY LECTURE: GOVT. NEED TO SHOW A POLITICAL WAY TO COMBAT THE NIGERIA THREAT OF ILLICIT FUNDS FLOW
Nigerians Government has been urged to ensure the need to show a political way to combat the Nigeria Threat Of ILLICIT fund flow to encourage a progressive and better future of the nation.
One of the Discussant, National Financial Intelligence Unit, Dr. Felix Obiamalu made this known on Tuesday, during the Realnews 11th Anniversary Lecture Series, & Investiture into the Realnews Hall of Fame held at the Sheraton Hotel, Ikeja, with the programme theme ” Threats of Illicit funds flow in Nigeria “to the African Economy”and it is also important to allow openness in governance so as to discourage all from being lured into an illicit funds flow practices, through sensitization, talking among the general public and save the upcoming generation.
The Labour Party Presidential Candidate, Mr. Peter Obi commended the Realnews convener in his address, for the topical programme organised to help save, and combat the issue of corruption in the country, for it cannot be overemphasised perse, but it will build a better society for our children.
The CEO and Vice Chairman, Nigerian Communication Commission, Ncc, Dr. Aminu Maida, who was ably represented Mr. Ruben Mouka, expressed his delightment to be in the Anniversary, and most especially, to discuss this topic which has become very important in our ecosystem: The Use of ICT in Curbing Financial Crimes.
He referred the Financial crimes to criminal activities that involve transactions, abuse, misuse, deception, or manipulation of financial systems for personal gain.
As They include a wide range of offenses such as Insider abuse, Money Laundering, Terrorism Financing, Proliferation Financing, embezzlement, Fraud (E-fraud, Banking, securities, corporate, Intellectual Property) etc.
That These crimes do not only have a huge economic and social impact, but can also be linked to violent crimes that lead to loss of lives.
And the crimes threatens the integrity, trustworthiness, stability, security, safety, and future of an entity (Country, enterprise, individual).
In his highlights, he said, With the increasing adoption of digital technologies, the emergence of new technologies, and the often-transnational nature of these crimes, the scope of financial crimes has broadened and created further concerns.
The Role of ICT in Curbing Financial Crimes
Robust information and communication technology (ICT) systems are critical for preventing/investigating financial crimes or mitigating the risks associated with virtual assets in financial markets.