EFCC Warns Bankers Against Creating Multiple Accounts for Customers

At a meeting with compliance officers of banks in Port Harcourt, Rivers State, on Tuesday, the Acting Zonal Director of the Economic and Financial Crimes Commission (EFCC), Mr Adebayo Adeniyi, said bankers must collaborate with the agency to minimise crime in the country.

He also emphasised the need for financial institutions operating in the country to enforce the Customer Due Diligence and Know-Your-Customers (KYC) policies to strengthen the fight against corruption.

Mr Adeniyi stated that banks and the EFCC must strengthen their partnership to rid the nation of economic and financial crimes and other acts of corruption, noting that customers must be reminded of the importance of KYC.

“It is important to remind banks of their critical roles as major stakeholders in the fight against corruption and that there is a need for the commission and the banks to work together,” he said.

He pointed out that issues of identifying bank customers and for banks to update records of their customers are very important to facilitate investigation processes.

Mr Adeniyi specifically cautioned account officers against encouraging internet fraudsters to commit fraud through multiple accounts creation or alerting their customers that they are under investigation by the EFCC or that their accounts have been flagged.

“In as much as you have to protect the bank, don’t do so at the detriment of the nation, do not protect the bank and destroy the image of your family and that of the society,” he stressed.

Responding, one of the compliance officers, Mr Edward Keto, appreciated the efforts of the anti-money laundering agency, saying, “It is a privilege to have this kind of meeting with the commission and it will help in dealing professionally with our customers.”