PURPOSE – This paper critically examines the anti-money laundering measures of the United Kingdom and Nigeria, to determine what the best approach is. The best approach is likely the one that strikes a fair balance between protecting the financial system against money laundering and promoting...

PURPOSE – This paper critically examines the Money Laundering (Prevention and Prohibition) Bill, 2016. Its aim is to determine the level of effectiveness of the preventive measures in the Bill.DESIGN/METHODOLOGY/APPROACH – The appraisal took the form of a desk study, which analyzed various...

Due to the overburdened criminal justice system, the vast majority of criminal cases are settled through a process known as plea bargaining. In a plea bargain deal, both sides gain something from the arrangement. The prosecution gains a conviction without the time and expense of a trial, while...

PURPOSE - The Bank Verification Number (BVN) project was introduced by the Central Bank of Nigeria due to increasing incidents of compromise on conventional security systems (password and PIN) and a high demand for greater security for access to sensitive or personal information in the Banking...

This paper recommends that a pre-employment background screening process should be established by all financial institutions that, at a minimum, uncovers information regarding a job applicant's convictions and program entries to ensure that only appropriate persons are employed. This measure...

PURPOSE – The overriding objective of this study is to increase public and private sector understanding of money laundering and terrorist financing risks associated with internet payment systems with the focus on Virtual Currencies like BitGold as the most vulnerable to abuse because of their...

Purpose: This paper aims to discuss the various anti-money laundering programmes that banks are required to put in place, to mitigate the tax evasion and money laundering risks in wealth management.Design/Methodology/Approach: This paper uses the “Panama Papers” revelations to illustrate the...