EFCC arraigns ALSCON, Russian director on N582.4 million money laundering charges

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EFCC arraigns ALSCON, Russian director on N582.4 million money laundering charges

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Nigeria’s EFCC has arraigned ALSCON and a Russian director over alleged money laundering involving N582.4 million in transfers. Prosecutors say the transactions were not reported to SCUML as required under the 2022 Money Laundering (Prevention and Prohibition) Act.

The EFCC said the transfers were not reported in writing to SCUML as required under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022. The post EFCC arraigns ALSCON, Russian director on N582.4 million money laundering charges appeared first on Premium Times Nigeria.

Politics Markets money laundering EFCC ALSCON Nigeria financial compliance

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