No major fraud is committed without the connivance of bank officials – EFCC

The Economic and Financial Crimes Commission (EFCC) has said that no major fraud committed in the banking sector without the connivance of bank employees. 


The commander of the Ilorin zonal command of EFCC, Michael Nzekwe, said this when he spoke at an interactive session with banks’ compliance officers from Kwara and Kogi states, while admonishing bankers to know their customers as well as the business of their customers.


“We invited you here today to nourish our existing relationship, educate ourselves on the new trends in cybercrime and seek areas of further collaboration as stakeholders in the fight against economic and financial crimes in Nigeria.

We advise that as bankers, you carry out due diligence and know your customers. By doing this, you save yourselves from trouble and make our job easier. There is no major fraud, especially money laundering, that is ever committed without the connivance of bank officials.”he said

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