(Last Updated On: September 6, 2020)

RSN™ Special Report: Nigeria’s Fortune In 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. Recovery $261,000,000 Dollars

Maybe it is better to be the police in Nigeria!?

Abuja, Nigeria — Acting Chairman of Economic and Financial Crimes Commission, 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., Ibrahim Magu, boasted yesterday that he had set a new record in asset recovery and conviction of corrupt elements in the country of Nigeria in the last three years of his administration.

$261,000,000 Dollars

Magu, who flaunted the achievements of his three-year stewardship before journalists in his imposing office in Abuja, announced that EFCC under his watch recovered N794 billion, $261 million (about N77.8 billion), £1.1 million and 407 mansions from scammers and frauds.

He also said that the commission convicted no fewer than 703 corrupt persons and institutions within the period under review.

In the three years that I have been in charge of EFCC, we have secured 703 convictions. The breakdown is as follows:

• 103 convictions in 2015
• 194 convictions in 2016
• 189 in 2017 and 217 from January 2018 till date

“Ladies and gentlemen, in the past three years, we have set recovery records to the envy of virtually all law enforcement agencies in Africa.

“It is on record that about 90 per cent of all recoveries in Nigeria is through the EFCC.

“Following court orders which granted our prayers for interim and final forfeiture of looted funds, the recoveries under my watch between November 2015 and today are as follows:

“Over N794billion recovered. Over $261 million has been recovered. The Pounds Sterling recovered stands at 1, 115, 930.47 Pounds. The Euros recovered in the period is: 8,168, 871. 13 Euros. There is also the sum of 86,500 CFA

“Hundreds of properties such as filling stations, petroleum products, land, jewellery, automobiles, real estate, vessels, hospitals, company shares and heavy machinery and broadcast equipment have been seized from corrupt elements between 2015 and 2018.

126 Luxury Mansions Seized

“From 2015 to 2018, 407 mansions were seized, 126 have been forfeited finally and 281 are under interim forfeiture.

“Plots of land seized sums up to 98 of which 56 are under interim forfeiture, while 42 have been forfeited finally to the Federal Government.

“Two hundred and fifty nine automobiles have been seized, 35 are under interim forfeiture while 224 have been forfeited finally.

“A hospital, St. Solomon Health Care Centre located at No. 24, Adeniyi Jones Street, Ikeja, Lagos, has also been forfeited finally.

Of Course Victims Of These Criminals, Will Never See A Penny!

The EFCC and the Government of Nigeria seized these assets and placed them under their control to be used or liquidated – maybe even sold to other scammers!?

Obviously arresting scammers is a profitable business in and of itself in Nigeria!

While we applaud the efforts of the Nigerian Economic and Financial Crimes Commission, EFCC, and Mr. Magu specifically, we are concerned that the monies and assets should be returned to those harmed by these criminals.

RSN^™ Team
a division of 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.^™
Miami Florida U.S.A.

 

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FAQ: How Do You Properly Report Scammers?

It is essential that law enforcement knows about scamsScams 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. & scammers, even though there is nothing (in most cases) that they can do.

Always report scams involving money lost or where you received money to:

1. Local PoliceLocal Police The Local Police is your first responder in most countries. In most English-speaking countries and in Europe report to them first. In other countries look for your national cybercrime police units to report scams to. In the U.S., Canada, & Australia, you must report to the local police first. – ask them to take an “informational” police report – say you need it for your insurance
2. Your National Police or FBIFBI FBI - Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, the FBI is also a member of the U.S. Intelligence Community and reports to both the Attorney General and the Director of National Intelligence. A leading U.S. counter-terrorism, counterintelligence, and criminal investigative organization, the FBI has jurisdiction over violations of more than 200 categories of federal crimes, including financial fraud. (www.IC3.gov)
3. The Scars Worldwide Reporting Network HERE or on www.Anyscam.com

This helps your government understand the problem, and allows law enforcement to add scammers on watch lists worldwide.

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Visit our NEW Main SCARS™ News & Information Facebook page for much more information about scams and online crime: www.facebook.com/SCARS.News.And.Information

 

To learn more about SCARS visit www.AgainstScams.org

Please be sure to report all scammers HERE or on www.Anyscam.com

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