EFCC Joins Forces with International Experts to Track Down Stolen Assets in Cambridge [Photos]

Illicit Assets in the Spotlight: EFCC Joins Global Experts in Cambridge to Tackle Economic Crime.

Top officials from the Economic and Financial Crimes Commission (EFCC) are among a distinguished group of international anti-corruption experts gathered at Jesus College, Cambridge, for a week-long symposium on economic crime. The 41st edition of the symposium, themed “Suspect Assets,” aims to explore strategies for tracing, recovering, and forfeiting illicit assets.

Led by EFCC Secretary Mohammed Hammajoda, the Nigerian delegation is engaging in peer reviews of complex frameworks to address threats posed by fraudsters and their illicit gains. Professor Barry Rider, founder and executive director of the symposium, emphasized the focus on identifying and controlling suspect wealth, including criminal property and unexplained wealth.

The symposium will delve into critical issues such as asset acquisition by fraudsters, including the nature and character of suspect wealth, asset removal, and pursuing suspect wealth in cyber space. Experts will also discuss tracing suspect wealth through civil law, freezing and laundering suspect wealth, and prosecuting high-profile individuals for corruption.

Dr. Umar Bello, head of strategic intelligence analysis at EFCC, highlighted the challenges of identifying suspect wealth in the financial system, citing third-party money laundering and concealment of beneficial ownership. He advocated for effective case management principles and multi-lateral collaboration to strengthen efforts in dealing with suspect assets.

Justice John Tosho, Chief Judge of the Federal High Court, Nigeria, shared the country’s efforts to trace, recover, and reintegrate suspect assets into the national treasury, emphasizing the importance of ensuring that fraudsters do not benefit from their crimes.

The symposium brings together a diverse group of experts from around the world, including academics, judges, lawyers, investigators, and law enforcement officers, to share knowledge and strategies in the fight against economic crime.

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