April 21, 2025

…Assures of justice for victims of CBEX scam

The Economic and Financial Crimes Commission (EFCC) has clarified that ST Technologies (not CBEX) registered with the Special Control Unit against Money Laundering, SCUML in line with Section 17 of the Money Laundering( Prevention & Prohibition) Act, 2022.

According to the Commission in a statement on Sunday, the registration is a statutory requirement for all Designated Non-Financial Businesses and Professions, DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism, AML/CFT regime.

It noted that the EFCC is not a clearing house or regulatory authority of online businesses.

“But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.