Last Updated on by SCARS Editorial Team
Disappointing News from the Nigerian EFCCEFCC Economic and Financial Crimes Commission
The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud), scams, and money laundering. The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. The agency has its head office in Abuja, Nigeria.
July 2021
Nigerian ScamScam A Scam is a confidence trick - a crime - is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost. News Update from SCARSSCARS SCARS - Society of Citizens Against Relationship Scams Inc. A government registered crime victims' assistance & crime prevention nonprofit organization based in Miami, Florida, U.S.A. SCARS supports the victims of scams worldwide and through its partners in more than 60 countries around the world. Incorporated in 2015, its team has 30 years of continuous experience educating and supporting scam victims. Visit www.AgainstScams.org to learn more about SCARS.
It Appears The The EFCC Is Not Making As Much Progress As They Have Previously Reported This Year!
According to the Nigerian Economic & Financial Crimes Commission:
- They have only filed 367 cases in 2021 – they previously projected they would pass 2,000 in 2021
- They have only had 185 convictions. This does not mean that half of them are being let go, it means that their courts are significantly delayed.
- They have recovered more than US$350 Million dollars from scammers. NOT ONE PENNY has gone back to victims this year!
- They have canceled plans for a victims’ notification service. This means they know who the victims are that arrested scammers stole from, but they are going to continue to maintain their secrecy about this.
Very Disappointing!
Here is a statement from the EFCC published today:
Often the Public ask where do all the monies recovered go to?
The answer is, all cash recoveries granted as final forfeiture to the Federal Government of Nigeria are transferred from the recoveries account to the Consolidated Revenue Fund account of the Federal Government of Nigeria domiciled at the Central Bank of Nigeria, CBN. Also, huge cash seized during Operations are also kept at Central Bank of Nigeria, CBN as Exhibits pending Interim or Final forfeitures.
Cash recoveries made on behalf of Individuals, Corporate bodies, States and Local Governments are returned back to them upon final forfeiture of such Proceeds of Crime by a Federal High Court.
They add: The above and infographicsInfographic Infographics (a shortened word of "information" and "graphics") are graphic visual representations of information, data, or knowledge intended to present information quickly and clearly. They can improve your understanding of a topic by utilizing graphics. Infographics have evolved in recent years to be more useful for mass communications and thus are designed with fewer assumptions about the readers' knowledge base than other types of visualizations. represents only recoveries made in our Executive Chairman’s First 100 days in Office. Many more recoveries have been made and convictions secured since then
They claim money goes back to the victims, but they have never provided any proof or even news reports of this.
While we are grateful for their efforts and arrests, these statements and numbers are very insufficient.
We think it is time again to apply pressure on the Government of Nigeria to be more transparent and open about these issues. We are also tired of waiting for the EFCC to decide to notify victims of scammer arrests. We also believe that there should be demands that stolen money is returned to victims.
Therefore SCARS will begin a new campaign, and we need your help!
- Boycott all products from West Africa, especially Nigeria and Ghana.
- Sign our petition and send your responses to the EFCC
With enough pressure, we can improve the situation!
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By the SCARS™ Editorial Team
Society of Citizens Against Relationship ScamsSCARS SCARS - Society of Citizens Against Relationship Scams Inc.
A government registered crime victims' assistance & crime prevention nonprofit organization based in Miami, Florida, U.S.A. SCARS supports the victims of scams worldwide and through its partners in more than 60 countries around the world. Incorporated in 2015, its team has 30 years of continuous experience educating and supporting scam victims.
Visit www.AgainstScams.org to learn more about SCARS. Inc.
A Worldwide Crime Victims Assistance & Crime Prevention Nonprofit Organization Headquartered In Miami Florida USA & Monterrey NL Mexico, with Partners In More Than 60 Countries
To Learn More, Volunteer, or Donate Visit: www.AgainstScams.org
Contact Us: Contact@AgainstScams.org
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