30 results
- 10 Aug 2022
Azentio Software Recognized in Anti-Money Laundering Solutions
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that it has been named as a Contender in The Forrester Wave™: Anti-Money…
- 19 Jul 2022
Ping Express Dispels Money Laundering Claims, Says Nigerians Are Treated Harshly for having Ineffective Anti-Money Laundering Policy
Ping Express, a financial technology company that was alleged to have laundered $160 million to Nigeria has debunked claims. The company denied the claims in a statement released on Tuesday and made…
- 25 Feb 2024
Binance to Pay $4.3Bn for Violating US Anti-money Laundering Laws
The world’s biggest cryptocurrency exchange, Binance Holdings Ltd (BHL) has been ordered to pay $4.3 billion for violations of anti-money laundering and sanctions laws in a settlement approved by a…
- 7 Mar 2024
SEC Mulls New Anti-money Laundering Regulations for Digital Assets Operators
The Securities and Exchange Commission (SEC) says it has developed new guidelines for licensing, registration and screening of digital and virtual assets service providers (VASPs). According to the…
- 11 Mar 2026
CBN Directs Banks to Activate Anti-Money Laundering Systems
Central Bank of Nigeria (CBN) has issued new baseline standards requiring banks and other financial institutions to deploy automated anti-money laundering systems capable of detecting suspicious…
- 17 Feb 2022
CBN Kicks Against New Anti-Money Laundering Law
Central Bank of Nigeria (CBN) on Thursday kicked against plans by the Senate to enact a new anti-money laundering law. The apex bank put forward this position during a public hearing by a Senate…
- 29 Mar 2018
Blockchain to Transform Anti-money Laundering Ecosystem - Report
Blockchain technology may be the answer to money laundering and fraud associated with payment processing services within financial institutions. This is according to a Forrester report titled:…
- 5 Sept 2025
CBN Launches Compliance Department to Oversee Anti-Money Laundering, Cybersecurity
Central Bank of Nigeria (CBN) has announced the establishment of a new compliance department to strengthen oversight of non-prudential risks in the country’s financial sector. In a circular to…
- 22 Nov 2019
CBN Rejigs Anti-Money Laundering Laws
Central Bank of Nigeria (CBN) has amended its laws on anti-money laundering and combating the financing of terrorism through banks and other financial institutions in Nigeria (amendment regulations…
- 4 Feb 2015
Adeseyoju, DataPro boss Urges Banks to Embrace Anti-money Laundering Measures
Mr. Abimbola Adeseyoju, managing director of DataPro Limited, has urged banks to see anti-money laundering (AML/CFT) compliance as an obligation because of the need to insulate banks and other…
- 5 Nov 2014
IBA Releases Money Laundering Prevention Guide
A new guide aiming to provide lawyers across the world with practical guidance in detecting and preventing money laundering has been produced by the International Bar Association (IBA) in conjunction…
- 30 Aug 2013
NFIU to Sanction Banks over Money Laundering
Nigerian Financial Intelligence Unit (NFIU), yesterday, threatened to sanction financial institutions in the country, following their non-compliance with certain anti-money laundering provisions. Ms.…
- 29 Nov 2024
CBN Fines 29 Banks N15Bn for Violation of Money Laundering, Terrorism Financing Regulations
Central Bank of Nigeria (CBN) has said penalties totaling N15 billion were imposed on 29 banks for violations of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.…
- 6 Apr 2009
IMF Earmarks over $31 million to Fight money laundering
Money Launderers and Terrorism financiers in African countries are in for a big confrontation as the International Monetary Fund (IMF) has packaged for launching a donor-supported trust fund worth…
- 10 May 2017
CBN to Revoke Banks’ Licences over Money Laundering, Others
The Central Bank of Nigeria (CBN), said it would revoke the operating licences of micro finance banks, and other financial institutions (OFIs), due to non-compliance with anti-money laundering and…
- 26 Apr 2018
CBN to Punish Banks, Directors for Money Laundering Offences
Central Bank of Nigeria (CBN) has reeled out new regime of sanctions which includes punishments for banks, their directors as well as huge fines against financial institutions found culpable of any…
- 16 Jan 2026
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win
Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria's removal from the European Union's list of high-risk third countries for Anti-Money Laundering and Countering the Financing of…
- 25 May 2022
CBN Intensifies War against Money Laundering
.Central Bank of Nigeria (CBN) has developed guidance note on anti-money laundering/combating the financing of terrorism (AML/CFT) for other financial institutions (OFIs), in a bid to protect the…
- 6 Mar 2015
SEC, NFIU to Collaborate to Check Money Laundering, Terrorism Financing
The Securities and Exchange Commission (SEC) and the Nigerian Financial Intelligence Unit (NFIU) of the Economic and Financial Crimes Commission (EFCC) have pledged stronger collaboration to fight…
- 17 Mar 2022
Senate Amends Money Laundering Act, Banks to Report Deposits to EFCC
The Senate has passed a bill to amend the Money Laundering Act 2011, which makes it mandatory for Deposit Money Banks and other financial institutions to report to the Special Control Unit Against…
- 26 Mar 2024
Money Laundering: US Slams Criminal Charges on Crypto Exchange Company, KuCoin, and its Founders
United States Government on Tuesday, March 26, indicted cryptocurrency exchange KuCoin and its two founders, Chun Gan and Ke Tang on criminal charges. Chun Gan and Ke Tang are charged with failing to…
- 22 May 2025
CBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
Central Bank of Nigeria (CBN) has directed all financial institutions to implement real-time transaction alert systems as part of enhanced anti-money laundering (AML) compliance. The directive was…
- E-Financial18 Aug 2026
Banks, Others Report 42,082 Transactions to NFIU
Financial institutions in Nigeria filed 42,082 suspicious transactions reports to the Nigerian Financial Intelligence Unit (NFIU) in 2025, as financial institutions stepped up compliance with anti-money laundering regulations amid tighter regulatory oversight.
- 11 Mar 2026
Fintechs Gear up to Combat Fraud as CBN Issues Directive on Fraud Detection Solution
The Central Bank of Nigeria (CBN) has directed banks and fintechs to implement automated systems to detect suspicious transactions to strengthen anti-money laundering (AML) and financial crime…
- 29 Nov 2018
Union Bank Threatens to Shut Down Cryptocurrency-Related Accounts
Union Bank, has threatened to shut down an undisclosed number of cryptocurrency-related accounts, citing Central Bank of Nigeria’s (CBN) past warnings about cryptocurrency trading. In a…
- 25 Jun 2025
NFIU Credits AML/CFT Reforms behind Nigeria’s Nears Exit from FATF Greylist
Nigerian Financial Intelligence Unit (NFIU) has credited a series of strategic reforms under the national Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing…
- 28 Mar 2025
NCS to Launch Electronic System for Cash Declarations at Airports
Nigeria Customs Service (NCS) is set to introduce an electronic declaration system to streamline and enhance compliance for travelers carrying cash into or out of Nigeria. Speaking in an interview…
- 7 Aug 2022
Firms Launch Clari5 to Stem Frauds in Financial Institutions
CWG Plc and Customer XPs Software have launched new sophisticated software that provides real-time detection and prevention of cyber threats into the market. The software, known as Clarii5 is a…
- 2 Mar 2009
CBN Restructures Operations of BDC
The Central Bank of Nigeria is to review the licenses of Bureau de Change (BDC) operators in a move aimed at sanitizing that segment of the foreign exchange market. Professor Chukwuma Soludo,…
- 19 Sept 2014
SERAP Demands Sanctions against FG over $9.3m Arms Cash
Socio-Economic Rights and Accountability Project (SERAP) has petitioned Mr. Roger Wilkins, president, the Financial Action Task Force (FATF), urging him to “urgently use your good offices and…