EFCC Warns Hoteliers, Banks against Assisting Fraudsters
The Ilorin Zonal Commander of the Economic and Financial Crimes Commission, (EFCC) Michael Nzekwe, has cautioned hotel owners in the state against accommodating cybercriminals otherwise known as Yahoo boys in their facilities or risk being prosecuted and jailed.
He also cautioned bank officials against aiding and abetting cybercriminals in money laundering.
Nzekwe gave the warning yesterday while addressing a stakeholders’ meeting of Designated Non-Financial Institutions (DNFIs), in Ilorin Kwara State.
According to him, the meeting was called to sensitise stakeholders on the rising trend of the activities of fraudsters and the need to support the commission in the fight against corruption.
He said: “The commission has observed a worrying pattern of cold complicity by hospitality entrepreneurs who appear to be hands-in-gloves with suspected fraudsters by housing them over long spells and making internet facilities available to them.”
Warning hoteliers against allowing cybercriminals into their facilities, the zonal commander said that hoteliers would be contravening section 3 of the Advance Fee Fraud and Other Fraud Related Offences Act if they continue to allow Yahoo Boys to check into their hotels.
He said:“Section 3 of the Advance Fee Fraud And Other Related Offences Act, 2006 provides for a prison term of between five and 15 years without option of fine for any person who permits his premises to be used for any offence under the Act.”
According to him, ignorance was not an excuse under the law. “While the argument is being made in certain quarters that hoteliers as business people have no means of determining who a fraudster is before allowing them to lodge in their facilities, that position runs counter to the law”, he said. The zonal commander also implored them to support the commission with credible and actionable information, adding that such information when received would be treated with absolute confidentiality.
He frowned at the actions of some bank officials, who aid and abet money laundering activities and other economic and financial crimes, describing such acts as “a sign of systemic abuse and failure on the part of such banks”.