Re: New Ways to Launder Cash, by NDLEA: ATM Cards Loaded with Money..
Mobolaji Aluko
Bolaji Aluko
EFCC nabs 2 with 556 ATM cards, travellers’ cheques
on October 09, 2015 / in News 2:50 am / Comments
Abuja—The Economic and Financial Crimes Commission has arrested two Nigerians with a shocking 556 banking instruments, with which they had been using to commit unsuspecting large scale fraud.
The two men-Jonathan Odu Isikwei and Paschal Onuora Udeh were picked up operatives of the commission for unlawful possession of 448 travelers’ cheques and 108 Automated Teller Machine (ATM)/Debit cards.
Jonathan Odu Isikwei was found with 448 travelers’ cheques, while Pascal Onuora Udeh, 34, was arrested with 108 ATM cards on his way to China.
A statement issued by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said the two suspects would soon appear in court to account for their action.
The statement said: “The Economic and Financial Crimes Commission (EFCC) is set to arraign one Jonathan Odu Isikwei for unlawful possession of 448 travelers’ Cheques.
“Isikwei 51, a native of Igbodo in Aniocha local government area of Delta State, was arrested at the Murtala Muhammed International Airport, Lagos, by the Operatives of National Drug Law Enforcement Agency (NDLEA) during the outward clearance of passengers on a Belgium- bound flight.
“The case was transferred to the EFCC for further investigation.”
The EFCC gave the details of its investigation into the incidents.
It added: “The 448 travelers’ Cheques recovered from Isikwei were discovered to purportedly belong to four banks in America, Europe and Canada.
“The banks and the travelers’ cheques are – Gun Nebo Inc. (Bank of Nova Scotia)- 117 pieces, Postbank Frankfurt -258 pieces, Safe Federal Credit Union -41 pieces and RBS (Royal Bank of Scotland) -32 pieces.
“All the travellers’ cheques were signed, with some having monetary value written on them. Among the cheques belonging to Safe Federal Credit Union, 27 pieces were blank, while 14 pieces of the cheques have monetary value worth 322,800 US Dollars.
“ (27) pieces of the travellers’ cheques belonging to Gun Nebo Canada Inc. were blank, while 90 pieces of the cheques have monetary value worth 354,300 Canadian Dollars.
“The suspect who claimed he exports dried fish from Nigeria to Belgium, told investigators that he collected the parcel for onward delivery to a friend without any knowledge of the content.”
The EFCC explained how Udeh was intercepted with 108 ATM cards at Murtala Mohammed International Airport, Lagos.
It said: “In a related development, the EFCC is investigating the activities of one Pascal Onuora Udeh.
“The 34-year-old was arrested for being in possession of 108 pieces of Automated Teller Machine (ATM)/Debit cards.
“The suspect, who claimed to be a trader and an undergraduate of Nnamdi Azikiwe University, Awka, is a native of Umudim Village of Obibi, Ochasi Ato, in Orlu local government area of Imo State.”
New ways to launder cash, by NDLEA
The arrest at the weekend at the Murtala Muhammed International Airport in Lagos, of Udeh Onuora Pascal (34), with 108 Automated Teller Machines (ATM) debit cards may have opened a lead to the discovery of another means of money laundering.
Udeh is suspected to be working for an international criminal organisation.
It was learnt that security agencies attached to major international airports have discovered that passengers now launder huge sums of money abroad by loading money into unsuspecting people’s accounts with the plan of pulling the cash out using debit cards on arrival at their destination .
The new trick, according to officials of the National Drugs Law Enforcement Agency (NDLEA) is to beat the Customs and Immigration checks at the airport, which require them to declare any foreign currency in excess of $5,000.
According to regulations, passengers are expected to fill certain forms at the airport if they are in possession of any foreign currency above the prescribed amount.
The forms issued by Nigerian Customs Service, is to ensure that huge foreign currencies are documented by the service and relevant checks carried out on its owners before they leave the country.
Spokesman of the NDLEA Mr. Mitchel Ofoyeju, said some passengers are now taking steps to beat existing regulations by using people’s accounts to launder money.
He said the NDLEA and the Economic and Financial Crimes Commission (EFCC) have tightened security to prevent money laundering through the airports.
The synergy, he said, may have pushed some passengers to think of ingenious ways to launder money by using credit cards obtained from people in whose account they have lodged huge sums of money.
Udeh was attempting to board a Qatar Airline flight to China when he was arrested with the debit cards which belong to five commercial banks.
The suspect, who was first transferred to the Assets and Financial Investigation Directorate of the Agency for investigation, has now been turned over to the Economic and Financial Crimes Commission (EFCC), according to Mrs. Victoria Egbase, the NDLEA director of assets and financial investigation department.
The suspect, in his statement said he was asked to take the cards to China.
“I am not the owner of the cards. I was told to take them to China and that somebody will collect them from me when I get there. I have a shop where I sell clothes at Onitsha main market. I am also a 300 level student of Nnamdi Azikiwe University Awka, Anambra State studying History and International Relations.
“I never knew it would lead to my arrest,” said Udeh who hails from Obibi in Orlu Local Government Area of Imo State.
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PREMIUM TIMES
DLEA arrests man with 108 ATM cards
A 34-year old man suspected to be working for an international criminal organization has been arrested with 108 Automated Teller Machine debit cards.
Pascal Udeh was arrested at the Murtala Muhammed International Airport, Lagos, while he was attempting to board a Qatar Airline flight to China.
The debit cards belong to five commercial banks, the National Drug Law Enforcement Agency said in a statement on Saturday.
Ahmadu Garba, the NDLEA Commander at the Lagos airport, said the suspect was arrested in connection with suspected money laundering and was immediately transferred to the Assets and Financial Investigation Directorate of the Agency for investigation.
According to the agency, First City Monument Bank had the highest number of cards with 58; Stanbic IBTC Bank had 23 cards; Zenith Bank, 19; Fidelity Bank, 6; and Diamond Bank, 2.
Victoria Egbase, the Director of Assets and Financial Investigation, said the Agency had established a prima facie case of financial crime against the suspect and that the Chairman had ordered the transfer of the case to the Economic and Financial Crimes Commission for further investigation.
The NDLEA quoted the suspect as saying that he was asked to take the cards to China.
“I am not the owner of the cards,” said Mr. Udeh.
“I was told to take them to China and that somebody will collect them from me when I get there. I have a shop where I sell clothes at Onitsha main market.
“I am also a 300-level student of Nnamdi Azikiwe University Awka, Anambra State studying History and International Relations. I never knew it would lead to my arrest.”.
The suspect hails from Obibi in Orlu Local Government Area of Imo State, the NDLEA said.
Ahmadu Giade, the NDLEA Chairman, said the case should be transferred to the EFCC.
“This is a suspected money laundering case involving cash transfer with debit cards,” said Mr. Giade.
“The EFCC will carry out further investigation on the case. We must continue to work together as a united force against criminal syndicates.”
Olukayode Soremekun
The question is - how can this be possible without the banks' involvement? You cannot have this number of accounts without the KYC process sending out alarm.
Hmm!
Sbaba
Date: Tue, 20 Oct 2015 04:02:49 +0100
Subject: USA Africa Dialogue Series - Re: New Ways to Launder Cash, by NDLEA: ATM Cards Loaded with Money..
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