EFCC Urges Nigeria’s Gaming Operators to Comply with AML

The Economic and Financial Crimes Commission (EFCC), the gaming regulator in Nigeria, has announced it wants casino and gaming operators to ensure compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing legislation in the country.

EFCC hosts workshop focusing on compliance for casino operators.

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This statement came during a workshop for stakeholders in the gambling industry to promote the “Implementation of Customer Due Diligence and Targeted Financial Sanctions, TFS Requirements”, which was hosted by government authorities in the jurisdiction.

The EFCC also wants casino and gaming operators to use the workshop as a place where stakeholders in the gambling industry can exchange ideas with each other.

We acknowledge and appreciate your significant contributions to the nation’s economic growth. However, we urge you to ensure that your operations align with the provisions of the law. Our goal is to support Nigeria’s efforts to exit the FATF (Financial Action Task Force) list. A key area of focus is enhancing Know Your Customer (KYC) practices, which will help prevent Politically Exposed Persons (PEPs) from using your platforms for money laundering and embezzlement.

Michael T. WetkasActing Lagos Zonal Director of the EFCC

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Key Compliance Issues in the Workshop

Leadership at the EFCC gave a detailed breakdown of how gambling companies in Nigeria can achieve compliance with AML and Counter-Terrorism Financing (CTF) in the country. Some of the measures include customer due diligence, suspicious transaction reports, targeted financial sanctions.

Casino and gaming operators are encouraged to adopt Know Your Customer (KYC) procedures, and the EFCC says this will prevent customers who may be Politically Exposed Persons (PEPs), from accessing gambling platforms.

This event must be seen as part of the continued partnership between SCUML and stakeholders in the gaming industry toward the development of an effective, sustainable and mutually beneficial AML/CFT supervision of the sector in Nigeria. This will strengthen your compliance and build a common, formidable response against terrorist financiers and other criminal elements seeking to abuse the sector.

Pascal SamuActing Deputy Director at EFCC Headquarters


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