Abdulrasheed Bawa, chairman of the Economic and Financial
Crimes Commission (EFCC), says the commission has recovered $20million worth of
cryptocurrency from cybercriminals.
He said the commission sees cryptocurrency as an “avenue
where criminals launder proceeds of crime”.
He said this on Sunrise Daily, a Channels Television
programme, on Tuesday.
The Central Bank of Nigeria (CBN) had issued a directive that banks should close accounts of persons or entities involved in cryptocurrency transactions within their systems.
“As it is today, there is nowhere in the world where
cryptocurrency is being regulated. The EFCC is looking at cryptocurrency as an
avenue where people are laundering their proceeds of crime,” he said.
“Where people are receiving proceeds of crime and that is
our worry. We have seen again and again how cybercriminals are using it as an
avenue to get their proceeds of crime.
“Before, it used to be through money transfer agencies like
Money Gram and Western Union. Now they have gone E.
“They will defraud somebody and get gift cards, and exchange
in dark webs, and use the proceeds to buy crypto. And then of course get it into their
e-wallets and they can sell and get their money.”
“As it is now today, we have about $20 million worth of
cryptocurrency because we also created our own crypto wallet to recover
cryptocurrency. We are now recovering the proceeds of crime.
“We are in support of what the CBN has done because it has
reduced the ease for which these criminals can get cryptocurrency and get naira
for it.
“I believe we will not be left behind when it comes to
ensuring that laws and regulations are put in place to checkmate the excesses
of cryptocurrency.”
Bawa said within January to June 3, 2021, 1,436 suspected
cybercriminals have been arrested across the country.
“From January to June, according to the statistics, the EFCC
has arrested 1436 suspected cybercriminals across the federation,” he said.
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