Banks Involved in 70% of Financial Crimes says EFCC

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The Economic and Financial Crimes Commission (EFCC) revealed that Nigerian banks are involved in 70 percent of financial crimes.

Chairman Ola Olukayode stated this at a meeting in Abuja, stressing the rise of fraudulent activities in the banking sector.

He emphasised the need for joint efforts from authorities and audit executives to combat fraud, highlighting various types like customer deposit misuse, loan authorizations, hacking, and collusion between insiders and outsiders.

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