EFCC targets fraudsters hiding under real estate business

The Economic and Financial Crimes Commission (EFCC) has resolved to beam its searchlight on suspected fraudsters hiding under the real estate industry, a lawyer with the commission said on Saturday.

The lawyer, Chris Mishela, who addressed journalists during training on effective reporting of economic and financial crimes in Benin City, Edo State, said the commission would keep Nigerians, particularly the media, abreast of the framework of the new Anti-Money Laundering Act 2022.

He said: “As it is, I am talking about Abuja, you see so many estates coming all over Abuja and more.

“The sources of these funds are unlawful; the funds are illegally gotten either from government or from the international crime that is used to launder through estate business.

“So, EFCC is actually working to look into that dimension and the new money laundering Act has provided an opening for the government to look into the aspect of real estate as we have seen under the Act.

Read also:EFCC arrests six suspected internet fraudsters in Abuja

“Real estate is one of the designated and non-designated professions that are also under our obligation, under the establishment to do a full disclosure.

“It is an investigation that is going on; not that we have identified any specific entity to these proceeds of crime, but we are working to unravel such.”

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