Public funds moved from LG account into crypto wallets – EFCC
The Economic and Financial Crimes Commission has disclosed how public funds were moved from a local government account to a private company before being transferred into cryptocurrency wallets. The EFCC Chairman, Ola Olukoyede, disclosed on Monday while addressing media executives and journalists in Abuja, stressing that the commission could not ignore the suspicious movement of Read More:…
The Economic and Financial Crimes Commission (EFCC) has revealed that public funds were moved from a local government account to private company before being transferred into cryptocurrency wallets. EFCC Chairman Ola Olukoyede disclosed this during a press conference in Abuja, stating that the commission detected suspicious transactions and froze the funds for 72 hours to investigate their destination and purpose.
Olukoyede emphasized the need for law enforcement agencies to shift from reacting to stolen funds to preventing suspicious transactions, highlighting the evolving nature of cybercrime, where public officials are using cryptocurrency wallets to launder stolen funds.
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