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Journal articles on the topic 'Economic and Financial Crimes Commission'
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1
Suleiman, Naziru, and Aidi Ahmi. "Investigation in the Net of the Nigerian Economic and Financial Crimes Commission (EFCC): A Case Study." Journal of Social Sciences Research, SPI6 (December 25, 2018): 701–8. http://dx.doi.org/10.32861/jssr.spi6.701.708.
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The objective of this paper is to understand the investigation of economic and financial crimes by the Nigeria’s Economic and Financial Crimes Commission (EFCC). Thus, the study through the use of case study from the qualitative research paradigm attempts to understand from the perspectives of experts from EFCC, the investigation of categories of economic and financial crimes. The findings revealed the concentration on the investigation of Public Sector Corruption (PSC) as compared to other forms of economic and financial crimes. Therefore, the paper recommends the strengthening of the investigation capacity of the EFCC to cover all forms of economic and financial crimes. Notwithstanding the need to stem the tide of PSC in Nigeria, other forms of economic and financial crimes equally have the tendency to retard the country backward in all its developmental processes.
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Akogwu Chukwunonso, Joseph, Dennis Ezeh Kelechukwu, Ojo Idowu Akinwumi, Udoji Raphael, and Aideloje Sunday. "Economic and Financial Crimes Commission and Anti-Corruption Crusade in Nigeria, (2015-2020)." International Journal of Research and Innovation in Social Science VII, no. XII (2023): 431–50. http://dx.doi.org/10.47772/ijriss.2023.7012036.
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Corruption has proven to be intractable in Nigeria, with resultant consequences on the political, economic and socio-cultural development of the nation. Though past military regimes, before the return to democratic government in 1999, initiated series of anti-corruption crusades at various times, corruption in high and low places continued to be on an alarming increase. With the return to democratic governance, President Olusegun Obasanjo saw to the establishment of the Economic and Financial Crimes Commission (EFCC) in 2002, which amongst others is vested with the responsibilities of prevention, investigation and prosecution of individuals, groups and institutions found culpable or corrupt, and unearth frauds and recover public loots in the country. After over a decade of the commission’s existence in the country, corruption remain a pandemic, which informed President Muhammadu Buhari’s second major promise during his campaign in 2015, to fight and completely eradicate corruption. Between 2015 and 2020, a lot a successes and failures have punctuated the activities of the commission and this is the thrust of this study. The Institutional Approach was used as the theoretical framework for the study and we relied on materials collected from secondary sources. Among other recommendations of the study, the Federal Government of Nigeria should speedily take steps to establish special courts to deal specifically with corruption cases while the Judicial Service Commission and the Nigeria Bar Association should be strengthened to deal firmly with alleged cases of corruption or misconduct involving Judges and lawyers respectively.
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CHIOKE, Stephen Chinedu, Basil Chukwuemeka NWANKWO, Ikeotuonye Victor OKONKWO, and Florence C. AGBODIKE. "ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) AND WAR AGAINST WHITE-COLLAR CRIMES IN NIGERIA." Journal of Public Administration, Finance and Law 29 (2023): 97–110. http://dx.doi.org/10.47743/jopafl-2023-29-09.
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The activities of corrupt individuals engaged in white-collar crimes still persist despite EFCC’s existence. This study was thus conducted to examine: the achievement of EFCC on containing money laundering and misappropriation of funds in Nigeria; and the implementation of EFCC’s anti-graft mandate in terms of obtaining money by false pretense and fraudulent banking in Nigeria. The study adopted scooping and survey method wherein 301 participants were sampled from selected states in Nigeria. It revealed that the fight against money laundering and misappropriation of funds; and obtaining money by false pretense and fraudulent banking were to a low extent implemented by EFCC. This finding is sacrosanct for understanding the dynamics of the anti-graft war in Nigeria. The study’s originality/value stems from its departure from the apparently over flogged issues regarding causes and/or effects of corruption to interrogating the extent of the performance of EFCC’s objectives through mixed method design.
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Ogwiji, Joseph. "Forensic Accounting and Financial Crimes: An Empirical Evidence from Operatives and Trainers of the Economic and Financial Crimes Commission, Academy, Nigeria." European Journal of Accounting, Auditing and Finance Research 11, no. 3 (March 15, 2023): 54–66. http://dx.doi.org/10.37745/ejaafr.2013/vol11n35466.
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Financial crimes in the public sector continue to be on the increase despite the effort of the Nigerian government in preventing the incidence of fraud and corruption through measures, such as establishing and strengthening organs of accountability and promoting the global best corporate practices. In view of this challenges, it become necessary to examines the effect of attributes of forensic accountants– Investigation of financial Crime and Corruption Skill (ICC), Knowledge and Expertise (KE), Litigation Support Services (LSS) on the financial crime (FC) in Nigerian public sector. The study employed cross-sectional design and a survey method. of the 110 questionnaires distributed, 53 questionnaires were returned valid and analysed. The study used PLS-SEM (SmartPLS 3.0) and IBM SPSS ver. 20.0 as the primary statistical analysis tools. The results of the study confirm that Knowledge and Expertise and Support Services of a forensic accountant has a significant positive effect on Financial Crime and it shows that investigation of crime and corruption has an insignificant negative effect on financial crime. Thus, the findings revealed that the forensic accountant attributes have significantly higher levels of KE, LSS on FC concerning fraud prevention, detection, management and response. Also, investigation of corruption discourages financial crime though not on high. The implication of this study might result in the overall reduction of fraud and fraudulent acts, promote institutional, regulatory and legal framework, and create awareness amongst the accounting and auditing institutions in the Nigerian public sector.
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Lomachenko, T. I. "CONCEPTUAL APPROACHES TO ENSURING ECONOMIC SECURITY OF THE OIL AND GAS COMPLEX IN THE CONDITIONS OF DIGITAL ECONOMY." Scientific Journal ECONOMIC SYSTEMS 13, no. 3 (2020): 165–73. http://dx.doi.org/10.29030/2309-2076-2020-13-3-165-173.
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The financial and economic crisis caused by the coronavirus pandemic provokes not only unconventional situations in society, but also actively affects the state of economic crime. The criminal situation in the oil and gas complex is directly related to the current state of the economy and digitalization of its processes, a set of conditions and factors responsible for its stability, sustainability and progressiveness of the digital economy. It is not enough to assess the economic criminality of the oil and gas complex only by the number of revealed crimes; therefore, it is necessary to implement an effective economic concept of society and economic security of a particular enterprise, legal entity and individual, which will allow to change the entire cause-and-factor complex causing economic criminality. The article reveals the specific features of the oil and gas complex that contribute to the commission of economic crimes. A classification of factors contributing to the commission of economic crimes is proposed, in which the socio-economic and specific factors of the oil and gas industry are consistently considered, and their characteristics with the growth of economic crimes are given. The scientific novelty of the research consists in the development of the model of preventive measures to ensure economic security at macro-, meso– and micro levels of market economy in the conditions of digitalization. The cause-and-factor complex of economic crimes is considered taking into account the following blocks: political and legal, socio-economic, sectoral, organizational and technological, which are interconnected and actively affect the level of economic crimes. As a result, the main measures to counteract economic crimes are proposed, taking into account the purposeful influence of society, specific enterprise, legal entity and individual on the causes and conditions of ensuring economic security of the state.
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Biryukov, Svyatoslav, and Vladimir Shynkaruk. "The Features of Tactics for the Commission of Judicial Economic Expertise in the Investigation of Crimes Related to the Financial and Economic Activity of the Subjects of Housing and Communal Services." Legal Concept, no. 3 (October 2019): 121–29. http://dx.doi.org/10.15688/lc.jvolsu.2019.3.18.
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Introduction: crimes in the sphere of housing and communal services pose a serious social danger and are of acute social nature, since they affect the interests of the state and society. Crimes in this economy sector lead to violations of the legal property rights of tens of thousands of citizens, their socio-economic security. The facts of criminal activity in the sphere of housing and communal services, less-than-prompt response to them by the law enforcement agencies, protraction or delay in the investigation of these facts form the prerequisites and contribute to the protest activity of the population, which destabilizes the sociopolitical situation. In this regard, the effective counteraction of the considered category of illegal acts requires prompt and full investigation of all facts of criminal activity committed in the sphere of housing and communal services in order to ensure the inevitability of punishment for their commission and compensation for material damage. Investigating crimes of the specified category, as a rule, is impossible without carrying out different judicial economic expertise, the commission, production and assessment of which conclusions in many respects predetermine the prospects of successful resolution of a criminal case in court. In this regard, the authors set a goal to reveal the tactical features of the commission of such an investigative action as judicial economic expertise which is so important for the investigation of most crimes committed in the field of housing and communal services. Methods: the methodological framework for this study is a set of methods of scientific knowledge, among which the main ones are the methods of information processing and logical analysis, synthesis, induction, deduction and generalization. Results: presented in the paper the author’s content of the tactical features of the commission of judicial economic expertise on the facts of crimes related to the financial and economic activity of the subjects of housing and communal services which relies on the judicial and investigative practice gives the chance to use them in practical activity of the authorized law enforcement officials during the identification and investigation of the above-mentioned facts. Conclusions: as a result of the study, the authors have determined the tactical features of the commission of judicial economic expertise on the facts of crimes related to the financial and economic activities of the subjects of housing and communal services in order to inform law students, the teaching staff of law schools, as well as practitioners to better understand the investigation features of crimes related to the financial and economic activities of the subjects of housing and communal services.
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Malgwi, Charles A. "Fraud as economic terrorism: the efficacy of the Nigerian Economic and Financial Crimes Commission." Journal of Financial Crime 12, no. 2 (April 2005): 144–64. http://dx.doi.org/10.1108/13590790510624981.
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Larichev, Vasily D. "Crimes in the Economic Sphere Related to the Illegal Formation of a Legal Entity through Dummies, as well as the Illegal Use of Documents." Business security 2 (March 25, 2021): 39–43. http://dx.doi.org/10.18572/2072-3644-2021-2-39-43.
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The article reveals the issues of creating fictitious organizations through which various banking and financial transactions are subsequently carried out. Schemes of committing crimes classified under Articles 170.1, 173.1, 173.2 of the Criminal Code of the Russian Federation are given, statistics on the commission of these crimes are given, recommendations are given on their differentiation.
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Sowunmi, Fatai Abiola, Muniru Adekunle Adesola, and Mudashiru Abiodun Salako. "An Appraisal of the Performance of the Economic and Financial Crimes Commission in Nigeria." International Journal of Offender Therapy and Comparative Criminology 54, no. 6 (August 13, 2009): 1047–69. http://dx.doi.org/10.1177/0306624x09341043.
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Yakubenko, Anastasia K. "Penalties for economic crimes in the criminal laws of the UK and the USA." Yugra State University Bulletin 17, no. 2 (December 28, 2021): 37–43. http://dx.doi.org/10.17816/byusu20210237-43.
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The subject of the presented research is the criminal law on punishment and other measures of criminal law applied in Great Britain and the United States to persons who have been found guilty of committing economic crimes. Purpose of the study: to present scientifically grounded proposals on the advisability of including in the Russian criminal law certain measures of criminal law that are applied to persons convicted of economic crimes, as an effective means of preventing white-collar crime. List of methods and objects of research. In the course of the research, dialectical, comparative-legal, formal-logical, as well as other methods of cognition used in theoretical and legal research were used in aggregate. Conclusions of the study: in the UK and the US, the practice of attracting persons convicted of many economic crimes is characterized by a high degree of severity. Punishments and other measures of criminal law, as a rule, involve the imposition of imprisonment for long periods. In addition, the perpetrator is subject to penalties aimed at the seizure of illegally obtained material values, as well as compensation for harm caused to the victim as a result of criminal activity. Such methods of combating economic crime have a high effect of private prevention of the commission of new crimes. But a significant number of people held in places of deprivation of liberty has an extremely negative effect on the financial and other interests of the state. Therefore, the Russian policy of humanizing criminal responsibility is seen as more promising in terms of countering modern economic crime. At the same time, the rule on the application of property-related punishments should be considered as a priority in the fight against economic crimes.
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Umar, Bello, Umar Abbas Ibrahim, and Peter Eriki. "Forensic Accounting and Incidence of Fraud Detection." International Journal of Finance & Banking Studies (2147-4486) 9, no. 2 (June 5, 2020): 72–81. http://dx.doi.org/10.20525/ijfbs.v9i2.680.
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The study described and explained forensic accounting and the incidence of fraud detection in Nigeria. The objectives of this study were to identify personal skills requirements and, assess the types of investigative techniques used in forensic accounting. A literature review was conducted to set up the conceptual and theoretical framework for the study. A quantitative approach was used by administering a structured questionnaire. A total of 101 investigators from Economic and Financial Crimes Commission (EFCC) were used as sample for the study. We employed Jarque Bera statistics to conduct the analysis using the E views software. There is a significant relationship between forensic accounting personal skills; investigative techniques and fraud detection in Nigeria. The scope of the study was only in Nigeria and all samples were drawn from the Economic and Financial Crimes Commission (EFCC). The study concluded despite all fraudulent activities, forensic accounting is proffering solutions for fraud prevention and detection in Nigeria. It was recommended for practitioners to engage in further training on forensic accounting personal skills and techniques.
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Ibe-Ojiludu, Somadina. "The Failure of Nigeria’s Economic and Financial Crimes Commission (establishment etc.) Act 2004 as a Development Act." Law and Development Review 11, no. 1 (January 26, 2018): 127–71. http://dx.doi.org/10.1515/ldr-2017-0034.
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Abstract This write-up answered the question of why the 2004 Act which set up Nigeria’s Economic and Financial Crimes Commission (EFCC) has failed to tame corruption in Nigeria. Reflecting on the numerous cases of political interference in the activities of the EFCC, the lack of some adequate funding of the activities of the commission and the EFCC’s plea bargaining regime, and relying on the thoughts of Charles Sherman and Ann Seidman and Robert Seidman, the write-up submits that the 2004 Act has principally failed to check corruption – and by extension has failed as a development Act – because it was not drafted and implemented for development.
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Kofanova, Olena, Yuliia Tereshchenko, Roman Kutsyi, Nadiia Morhun, and Oleg Gushchyn. "Actual situation of computer crime in the credit and financial sphere of Ukraine (modern aspects)." Banks and Bank Systems 14, no. 1 (April 1, 2019): 172–80. http://dx.doi.org/10.21511/bbs.14(1).2019.15.
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The purpose of the article is to study computer crimes in the credit and financial sphere based on elements of forensic characteristics of crimes and analysis of the ways of their commission. The relevance of the study is due to the rapid increase in the number of computer crimes in the credit and financial sphere and the low level of their disclosure. The research was conducted using the method of system analysis and synthesis of information obtained from criminal proceedings, as well as reports from the Ministry of Internal Affairs of Ukraine and the National Police of Ukraine, from 2014 to 2018. The most actual motives and methods of committing computer crimes in the financial sphere have been analyzed and it has been established that during the period of Ukraine’s independence, the level of economic crimes has increased by almost 300%. The increase in the number of crimes contributes to the distrust of the injured party to the law enforcement agencies, savings of funds of financial institutions on cyber security, low level of information security of the financial sphere of Ukraine, lack of clear coordination between the relevant departments, which are responsible for the investigation of these crimes. The necessity of conducting separate investigative actions at the initial stage of the investigation has been justified in order to facilitate the rapid identification of the suspect, causing material damage and, in general, the investigation process.
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Umar, Ibrahim, Rose Shamsiah Samsudin, and Mudzamir bn Mohamed. "Ascertaining the effectiveness of Economic and Financial Crimes Commission (EFCC) in tackling corruptions in Nigeria." Journal of Financial Crime 25, no. 3 (July 2, 2018): 658–68. http://dx.doi.org/10.1108/jfc-01-2017-0003.
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Purpose The purpose of this paper is to appraise the Nigerian Economic and Financial Crimes Commission (EFCC) of their role in tackling systemic corruptions and to associate how institutional and organizational factors influence the performance of the EFCC. Design/methodology/approach Data were gathered through in-depth interviews, non-participatory observations and documentary analysis. Findings The results of the integrative analysis show that the EFCC has apparently been ineffective, and further improvization of the organization is needed. Poor performance of the EFCC was associated with factors such as lack of commitment, inefficient judiciary, insufficient budgets and incompetent personnel. Practical implications This study recommends further improvements in the form of a greater political will, improved legal process and also elevated budgetary funds and recruitment of personnel to the EFCC. Originality/value The study adopted a descriptive, qualitative case study approach to describe the current state of the EFCC in Nigeria.
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Savosteeva, Natal'ya, Manon Husainov, and Nataliya Golovanova. "Corruption as a systemic threat to Russia's economic security." Russian Journal of Management 12, no. 1 (April 12, 2024): 372–79. http://dx.doi.org/10.29039/2409-6024-2024-12-1-372-379.
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At the present stage of Russia's historical development, taking into account scientific and technological progress, the results of which are used not only for the benefit of society and the country, the issues of countering the commission of economic crimes do not lose their relevance. Corruption as a type of economic crimes is a factor hindering sustainable socio-economic development, preventing an increase in the level of well-being of the population and the structural restructuring of the economy. The growth of the shadow economy is directly proportional to the growth of corruption. The shadow economy is dangerous for society, it undermines the financial stability of the state, reduces the amount of tax revenues to the budget of the country and the subjects of the Russian Federation, and contributes to the development of injustice in society. The article examines the main causes of corruption, the relationship between corruption and the shadow economy, and substantiates the need to develop and improve tools to counter corruption crimes in order to increase the level of economic and, accordingly, national security of Russia.
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Adamaagashi, Izuchukwu, P. "The Impact of the Fight Against Corruption on Nigeria's Economy: A Case Study of the Economic and Financial Crime Commission." INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH 9, no. 8 (February 9, 2024): 153–81. http://dx.doi.org/10.56201/ijssmr.v9.no8.2023.pg153.181.
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Corruption in Nigeria has long hindered economic development and raised concerns about resource misallocation, reduced foreign direct investment, and eroded public confidence in institutions. Established in 2003, the Economic and Financial Crimes Commission (EFCC) was tasked with combating economic and financial offenses, including corruption. This study aimed to assess the impact of anti-corruption efforts, particularly the role of the Economic and Financial Crimes Commission (EFCC), on Nigeria's economy. A survey research design was employed, with data collected through 109 structured questionnaires administered to personnel from various units of the EFCC at the Enugu state branch. Out of the questionnaires distributed, 100 were properly filled out and returned for analysis. Respondents were selected using a simple random sampling technique. The collected data were processed using the Statistical Package for Social Sciences (SPSS) 20.0. Descriptive statistical tools, such as simple percentages presented in tables and charts, were used to analyze and interpret the questionnaire data. The study revealed several key findings. Firstly, it emphasized the importance of the fight against corruption in Nigeria. Secondly, it highlighted the positive impact of anti-corruption efforts on the country's economy. Thirdly, it found that the EFCC has been making progress in combating corruption. Lastly, it confirmed that corruption hinders Nigeria's economic development. In conclusion, this study casts a glaring spotlight on the corrosive impact of corruption on Nigeria's economy, translating to staggering losses exceeding $100 billion in GDP. Consequently, the research emphasized the necessity of intensifying anti-corruption efforts. It proposed recommendations to address this issue, including the strengthening of anti-corruption agencies, the improvement of legal frameworks, and the promotion of economic growth as crucial steps towards achieving sustainable
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Jones, Oguadinma Joshua, and Ozor Adanne Chioma. "Fighting Kleptocracy in Democracy: An Assessment of the Efficacy of Anti-graft Policy Enforcement in Nigeria." World Journal of Social Science 9, no. 1 (January 22, 2022): 49. http://dx.doi.org/10.5430/wjss.v9n1p49.
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Financial crimes in Nigerian socio-political milieu have been more recurrent in contemporary times. The paper attempted to assess the performance of the Economic and Financial Crimes Commission (EFCC) from inception as a platform to evaluate the efficacy of anti-graft policy enforcement in Nigeria. It sought to establish whether the persistence of graft offences by Nigerian government officials was fallout of flaws emanating from censored operational space to restrict of the agency’s autonomy. Statutorily, it was mandated to prosecute all financial corruption in public offices, money laundering, advance-fee fraud and other offences related to these. However, in spite of these efforts, the war against corruption in every sphere is far from over. The paper anchored on the rational choice theory as analytical framework and employed the secondary source of data collection and analysis. Arguably, the EFCC operations have not been effective since the number of convictions for financial crimes in public offices is considered relatively low as against the level of the offense in the country. Again, the personnel of the agency were deemed to lack the required autonomy to address the intricacies of fighting the crime. Therefore, to reduce the spate of financial embezzlement, the Nigerian public laws should be amended to embrace a credible method of nominating candidates with good track records for political positions and public offices. In the same vein, more realistic autonomy should be given the operatives of the EFCC with a view to elicit more credible enforcement of the anti-graft law.
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Bello, Matthew Funsho, and Adaran Olapade Cosmas. "The Role of Economic and Financial Crime Commission (EFCC) in Combating Corruption in Nigeria." Musamus Journal of Public Administration 5, no. 1 (October 8, 2022): 121–39. http://dx.doi.org/10.35724/mjpa.v5i1.4354.
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Corruption as a “monster†subverts public institutions and their capacity to perform their assigned tasks efficiently, thereby damaging the substantive interest and endangering the lives of citizens whom these institutions are meant to serve. This indicates that the higher the propensity and will of the state to combat corruption the lower the dangers underdevelopment and societal disintegration, and vice-versa. The main objective of the study is to assess the role of the Economic and Financial Crimes Commission in combating corruption. The secondary source of data collection was used for this study. The study revealed that political interference hinders the EFCC from performing its role in the fight against corruption. Also, the study also found out that the EFCC has played a role in reducing the level of corruption in the public sector. It was recommended that the federal government should be committed to the sincere translation of the expressed political will of fighting corruption into reality by allowing the anti-corruption institutions to operate without political intervention in order not to compromise with their statutorily assigned responsibilities
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Bawa, Abdulrasheed, and Joseph Ogwiji. "Illicit Financial Flows and Economic Growth: Moderating Role of Economic and Financial Crime Commission in Nigeria." European Journal of Accounting, Auditing and Finance Research 10, no. 9 (August 15, 2022): 24–35. http://dx.doi.org/10.37745/ejaafr.2013/vol10n92435.
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Despite the efforts of Economic and Financial Crime Commission (EFCC) at curbing illicit financial flows and related problems, the magnitude of the challenges experienced overwhelms her implementation capacities. This therefore necessitate this study by analysing the effect of illicit financial flows on economic growth in Nigeria. The data for study were extracted from the report of EFCC and Central Bank of Nigeria (CBN) statistical bulletins from the period of 2010 to 2019. The study data was based on secondary sources. A purposive sample technique was adopted for the study. Based on the OLS regression model, findings of the study revealed that illicit financial flow and convicted secured by EFCC have a positive and insignificant influence on economic growth. It is therefore, recommended that EFCC should increase the effort in prosecuting and secured convictions of offenders, because will strongly reduce illicit financial flow in Nigeria.
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Lazarus, Suleman, and Geoffrey U. Okolorie. "The bifurcation of the Nigerian cybercriminals: Narratives of the Economic and Financial Crimes Commission (EFCC) agents." Telematics and Informatics 40 (July 2019): 14–26. http://dx.doi.org/10.1016/j.tele.2019.04.009.
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Oluwadamilare, Ikusemiju Ayokunle, and Anthony Ekwueme. "NEWSPAPER FRAMING OF THE ACTIVITIES OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION UNDER PRESIDENT MUHAMMADUBUHARI’S ADMINISTRATION." Humanities & Social Sciences Reviews 8, no. 3 (October 1, 2020): 1472–80. http://dx.doi.org/10.18510/hssr.2020.83148.
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Objectives of the Study: The purpose of this study was to examine newspaper framing of the activities of the EFCC under President Buhari, using four purposively selected newspapers. In doing this, the researchers focused on the prevalence of frames, most prominent frames, and interpretations they gave to the activities of EFCC.
Methodology: Content analysis and critical discourse analysis were adopted as the research methods. By means of the constructed week sampling technique, 288 editions of the selected newspapers years were studied.
Results: It was found that six (6) frames constituted 75% frame prevalence rate, while two (2) frames constituted 15% non-prevalence rate. The corruption-combating/criminalisation frame was the most prominent. Interpretation of the reports revealed that some newspapers presented EFCC as victimisers, while some appraised its activities at mitigating graft in Nigeria.
Application/implications: The implication of these results is that journalists need to improve in their framing anti-corruption efforts as part of their social responsibility to the Nigerian society.
Originality/ Novelty: This study has contributed to our understanding of the role of the media in promoting good governance and accountability in a developing country like Nigeria.
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Ali, Shazeeda. "Criminal minds: profiling architects of financial crimes." Journal of Financial Crime 28, no. 2 (February 3, 2021): 324–44. http://dx.doi.org/10.1108/jfc-11-2020-0221.
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Purpose The purpose of this paper is to construct a profile of a financial criminal, with special emphasis on their psychological attributes. The objective is to determine if such a profile can provide a valuable tool for detecting perpetrators of financial crime and for implementing risk-reduction strategies. Design/methodology/approach The approach involved a review of various personality disorders and other mental health issues, as well as an analysis of a number of cases involving serious financial crime, to ascertain whether the behaviour of the perpetrators was consistent with certain psychological challenges. In addition, the study examined various motivators for the commission of the financial crime. Findings The research revealed some key commonalities among the perpetrators of financial crime and that their behaviour was often consistent with that of a person afflicted with a personality or other psychological disorder. Originality/value The study provides a comprehensive analysis of various personality and other psychological challenges afflicting a number of offenders involved in financial crime. It also provides some critical findings that could be valuable for those charged with establishing measures to prevent and detect financial crime.
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Kamyshanskyi, Oleksii, Anatolii Dykyi, Anatolii Kryzhanovskyi, Tetiana Baranovska, and Olga Kovalchuk. "Conduct of search actions in the investigation of fraud with financial resources." Cuestiones Políticas 41, no. 77 (May 28, 2023): 830–52. http://dx.doi.org/10.46398/cuestpol.4177.54.
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The analysis carried out in the article was aimed at exploring the conditions of possibility, for inspection and search of the crime of fraud with financial resources, which also involved the review of: (places of events, documents); interrogation (of witnesses, suspect, victim); simultaneous interrogation of two or more persons already interrogated; presentation for identification (person, things). With the help of general and special philosophical methods, the tactical features of carrying out the specified investigative (search) actions, which are often caused by a conflict situation produced by the involvement of organized criminal groups, in the commission of such fraudulent actions, are determined. The results indicate the specific circumstances of the search, aimed at the seizure of computer equipment, software and relevant information contained therein. Furthermore, the conclusions emphasize the desirability of timely implementation, thorough preparation, involvement of a specialist in the field of economic activity and competent use of technical means of fixation to manage these crimes.
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Kaliakperova, Elena Nikolaevna. "MONITORING OF LEGISLATION ON CRIMINAL OFFENSES IN THE FIELD OF ECONOMIC ACTIVITY." Bulletin of the Institute of Legislation and Legal Information of the Republic of Kazakhstan 1, no. 68 (March 30, 2022): 103–9. http://dx.doi.org/10.52026/2788-5291_2022_68_1_103.
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The article deals with the issues of countering criminal offenses in the sphere of economic activity, since at the present stage this direction of criminal policy in Kazakhstan is a priority. The issues of pseudo-entrepreneurship and tax evasion and (or) other mandatory payments to the budget from organizations are mainly considered. The legislator has made significant changes to decriminalize a number of economic offenses in the Criminal Code of the Republic of Kazakhstan (hereinafter referred to as the Criminal Code of the Republic of Kazakhstan), but the level of general crime is not decreasing, but on the contrary, it is growing at a particularly rapid pace in all regions of the republic. One of the directions of the humanization of criminal legislation is the liberalization of economic crimes, which implies the expansion of the freedom of action of subjects, the removal or reduction of restrictions on any activity, the emancipation of entrepreneurship, as well as the modernization of the structure of the elements of crimes in economic activity provided for by the Criminal Code of the Republic of Kazakhstan. We agree with R. Abdrashev's opinion that «... it is necessary to distinguish between provisions related to the expansion of the freedom of action of economic entities and provisions that constitute conditions for the commission of economic (including corruption crimes)» [1, p.77]. As a result of the decriminalization of the first stage in 2011 (in accordance with part one of paragraph 2 of Article 37 of the Criminal Code of the Republic of Kazakhstan), 34 articles on 85 elements of the crime were left in the jurisdiction of the financial police, including 3 that were attributed to alternative jurisdiction: from the Customs Control Committee of the MF, from the KNS and the Ministry of Internal Affairs. The Law of the Republic of Kazakhstan dated June 13, 2013 No. 104-v on further decriminalization of economic crimes has somewhat changed approaches to offenses in the securities market. Article 215 of the Criminal Code of the Republic of Kazakhstan «Pseudo- entrepreneurship» was excluded in 2017.
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Dumchikov, M. O. "Methods of legalization (laundering) of property obtained by criminal means in cyberspace." Analytical and Comparative Jurisprudence, no. 5 (December 30, 2022): 330–34. http://dx.doi.org/10.24144/2788-6018.2022.05.61.
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The emergence and development of new financial and information technologies, the integration of national economic systems into the world economy, the expansion of economic ties both at the level of a separate state and at the supranational level significantly facilitate and even ensure the communication of criminals not only on the territory of a separate country, but also its limits. Technical innovations are undoubtedly changing the financial services industry, offering entirely new products aimed at making them easier to access, but new threats and vulnerabilities are emerging for the financial sector, such as cyber-attacks (internet fraud) or account manipulation.
The relevance of the research topic is determined by the significant amount of criminal investments penetrating the legal economy, the commission of new criminal offenses, the use of new ways of committing criminal offenses in cyberspace, the involvement of an increasing number of people in criminal activities, the corruption of state officials, including those called fight crime. Money laundering harms the economic security and financial stability of Ukraine. The international nature of this type of criminal offenses complicates the detection and investigation of crimes, thereby creating a "financial basis" for criminal groups (organizations) to carry out illegal, including terrorist, activities.
All efforts aimed at combating the legalization of proceeds of crime in cyberspace without creating an effective system to combat this phenomenon do not yield positive results. Therefore, combating the legalization of proceeds obtained through crime requires the study of the origin and ways of spreading this socially dangerous phenomenon, as well as proper legal protection, in accordance with international standards.
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Olusola, Faboyede,. "Economic and Financial Crimes Commission (EFCC) As A Strategy For Managing Nigerian External Reserves For Sustainable Developmen." IOSR Journal of Economics and Finance 1, no. 2 (2013): 48–54. http://dx.doi.org/10.9790/5933-0124854.
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Albert, Akume T., and F. C. Okoli. "EFCC and the politics of combating corruption in Nigeria (2003-2012)." Journal of Financial Crime 23, no. 4 (October 3, 2016): 725–47. http://dx.doi.org/10.1108/jfc-04-2015-0024.
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Purpose This paper aims to assess if the Economic and Financial Crimes Commission (EFCC) has been effective in combating corruption in Nigeria from 2003-2012. Design/methodology/approach The paper adopted a documentary analytical approach. Findings The organization has not been effective in combating corruption in Nigeria. Research limitations/implications The study is between 2003-2012. Practical implications There is a need to correct those identified inhibitors that undermined the Commission’s capacity, such as intrusive government interference, lack of autonomy, poor funding and weak laws, among others, to mitigate corruption. Social implications Eliminating those identified constraints will remove the incentive to be corrupt, thereby curbing the desire to be corrupt. Originality/value This paper is an original assessment of the EFCC's effectiveness in combating corruption in Nigeria during the specified period.
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Nyingchia, Dr Kwei Haliday. "Evaluating the ability of the National Agency for Financial Investigation of Cameroon and the Nigerian Economic and Financial Crimes Commission in combating Money Laundering." Scholars International Journal of Law, Crime and Justice 5, no. 7 (July 27, 2022): 294–304. http://dx.doi.org/10.36348/sijlcj.2022.v05i07.007.
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Illicit financial flows remain a serious problem to both developed and developing countries with tremendous negative impact on the economy. Although the police is there to investigate offences, certain offences are more sophisticated in nature thereby, necessitating the establishment of specialized agencies to investigate such offences. Nigeria and Cameroon have very common similarities when it comes to corruption and efforts to eliminate it led to the creation of the Economic and Financial Crimes Commission (EFCC) and the National Agency for Financial Investigation (ANIF). These agencies have the mandate to fight against money laundering and terrorist financing but the mandate of the EFCC is more extended with tremendous powers to investigate and directly prosecute offenders. ANIF does not have such powers and only report to the prosecution after investigation. This is attributed to the fact it is Financial Intelligence Unit (FIU) whose functions are usually limited to collection, analysis and dissemination of information related to money laundering, associated predicate offences and the financing of terrorism. Cameroon has opted for the administrative model lodged within the Ministry of Finance. The objective of this paper is that it seeks to make a comparative study of the EFCC and ANIF in the fight against financial crimes and to draw a line as to the model that is more efficient. To achieve this, a qualitative research approach was adopted. Accordingly, the doctrinal method was used which enabled us to do an on desk analysis of the available secondary and primary data on the EFCC and ANIF. This paper recommends that more sophisticated means should be given to the EFCC and that the CEMAC sub region should adopt the Nigerian model which has proven to be more successful in combating illicit financial flows.
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Сащенко, А. Ю., Е. И. Пикула, and С. А. Чернов. "Prevention of economic crimes as an element of the economic security of an enterprise." Экономика и предпринимательство, no. 5(142) (August 21, 2022): 1407–15. http://dx.doi.org/10.34925/eip.2022.142.5.269.
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Актуальность данной темы состоит в том, что разработка способов предупреждения и предотвращения экономических преступлений на предприятии должна способствовать поддержанию такого уровня его экономической безопасности, при котором бы предприятие могло успешно вести свою деятельность, получать стабильный доход, сохранять свои ресурсы и быть финансово устойчивым и платежеспособным. Исследование возможных вариантов правонарушений и условий, благоприятных их совершению, позволяет заранее определить круг охранных мероприятий, направленных на своевременное выявление готовящихся, совершающихся и совершенных преступлений, и их последствий. The relevance of this topic lies in the fact that the development of ways to prevent and prevent economic crimes in an enterprise should help maintain such a level of its economic security, in which the enterprise could successfully conduct its activities, receive a stable income, save its resources and be financially stable and solvent. The study of possible variants of offenses and conditions favorable for their commission, allows you to pre-determine the range of security measures aimed at the timely identification of preparing, committed and committed crimes, and their consequences.
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Fisayo, Duyile Praise, Ngboawaji Nte, Abdussalam Aishat Adejoke, and Olayiwola Richard Ayoola. "Elite Capture Syndrome and Anti-Corruption Control in Nigeria: The Economic and Financial Crimes Commission and The Independent Corrupt Practices Commission in Perspective." International Journal of Business, Humanities, Education and Social Sciences (IJBHES) 5, no. 2 (November 30, 2023): 144–52. http://dx.doi.org/10.46923/ijbhes.v5i2.282.
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Like many African states, Nigeria has hitherto been caught in the web of pervasive acts of grand and petty corruption. The pervasive nature of political and bureaucratic corruption in Nigeria has undeniably impoverished her economy and, as such, warranted the establishment of the EFCC and ICPC. However, anti-corruption agencies have not been able to control corruption to a minimum, as Nigeria remains poorly ranked in the global corruption index. This research takes on a critical and comparative lens to understand the nature of class politics in the fight against corruption, to examine the level of high-profile prosecutions, to identify irregularities in the institutions of law enforcement, and to consider the level of transparency and accountability for recovered loot and confiscated properties. The study finds, among other things, that powerful elites have high-jacked anti-corruption fights of the EFCC and ICPC, with low-profile convictions in Nigeria, and public accountability and transparency regarding recovered loot is almost nonexistent. The Elite Capture paradigm is employed as a theoretical guide in its narrative.
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Umar, Hassan Said, and Kasim Umar. "The Economic and Financial Crimes Commission and Corruption Management in Nigeria: A Perceptual Assessment of its Legal Framework." Asian Journal of Social Sciences and Management Studies 3, no. 2 (March 1, 2016): 140–44. http://dx.doi.org/10.20448/journal.500/2016.3.2/500.2.140.144.
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Umar, Hassan Said, and Kasim Umar. "The Economic and Financial Crimes Commission and Corruption Management in Nigeria: a Perceptual Assessment of its Legal Framework." Journal of Siberian Federal University. Humanities & Social Sciences 9, no. 2 (February 2016): 310–17. http://dx.doi.org/10.17516/1997-1370-2016-9-2-310-317.
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PAUL, SALISU OJONEMI, and Prof Chikelue Ofuebe. "Unabated Corruption in the Government of Nigeria Despite the Economic and Financial Crimes Commission: Who Bells the Cat?" Society & Sustainability 2, no. 2 (September 17, 2020): 45–58. http://dx.doi.org/10.38157/society_sustainability.v2i2.129.
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This paper examines the different dimensions and continuous corrupt practices in the federal government of Nigeria amidst President Buhari administration’s anti-corruption songs and war (2015 – date). It is observed that the menaces of infrastructural deficits are persistent and unabated due to billions of dollars that are carted away by both political and public office holders on a seasonal basis, and misfit appointment of public officials popularly referred to as ‘favoritism’ and the ‘lopsidedness.’ The study which is qualitative with data gathered from secondary sources. The paper found the fact that political and public office holders across administrations in Nigeria perceived corruption as a worthwhile venture despite the campaign against corruption. It is also noticed that the EFCC created to lead the anti-corruption war only barks without biting. The study advocated, among others, that the National Assembly should immediately reevaluate and review the Nigerian administration of the criminal justice system.
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Стуканов, Илья Андреевич. "IMPROVING THE DETECTIVE ACTIVITIES OF THE RUSSIAN CUSTOMS AUTHORITIES USING ADVANCED INTELLIGENT SOFTWARE." Вестник Казанского юридического института МВД России, no. 2(52) (June 29, 2023): 126–31. http://dx.doi.org/10.37973/kui.2023.78.95.018.
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таможенная преступность, таможенные органы, оперативно-розыскная деятельность, оперативное подразделение, современные цифровые технологии, автоматизированная система, база данных, перспективное программное средство, искусственный интеллект, большие данные Introduction: the relevance of the research topic is due to a set of circumstances that directly affect the organization of ensuring Russia's foreign economic security. For the purposes of the study, it is necessary to identify problematic issues in the implementation of detective activities in combating customs crime, as well as to develop proposals to improve countering these criminal encroachments through the introduction of promising intelligent software. Materials and Methods: empirical basis were personal experience of the author's service in the customs authorities of the Russian Federation; dialectical method, logical method, method of system analysis and synthesis, the method of theoretical modeling. Results: in the course of the study, criminological characteristics of common customs crimes are given, as well as the main schemes of their commission, practical features of the use of automated systems and databases by detective units of the customs authorities of the Russian Federation in detection, prevention, suppression and disclosure of these crimes are considered. Discussion and Conclusions: in order to improve the mechanisms of the detective activities in the fight against custom offences, proposals have been put forward for the practical improvement of the fight against smuggling, evasion of customs payments, the commission of illegal financial transactions using promising intelligent software and existing automated systems.
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Lyapin, A. E. "Cybercrime as a New Object of Statistical Analysis." Statistics and Economics 18, no. 6 (December 22, 2021): 4–16. http://dx.doi.org/10.21686/2500-3925-2021-6-4-16.
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A global trend in recent years is the so-called digitalization of crime, that is, the use of information technology as a means and instrument of crime. Remote methods of committing crimes have become widespread, in which direct contact is excluded not only between the offender and the victim, but also between the accomplices of illegal activities. The real damage from cybercrimes is currently difficult to calculate, while the number of these crimes is growing rapidly from year to year. This study analyzes the state and dynamics of crimes in the field of information technology, as well as identifies gaps in legislation, law enforcement practice and accounting in which information about crimes of this type is accumulated. Purpose of the research. The purpose of the research is to conduct a comprehensive analysis of the state and dynamics of crimes in the field of information technology. Within the framework of the article, it is necessary to give a definition of crimes in the field of information technology for the purpose of conducting static analysis, while distinguishing between identical concepts. Highlight the main types and methods of their commission, form the classification of crimes in the field of information technology and designate the criteria for their construction. Analyze the experience of foreign countries and the results of the operational activities of the economic security and anti-corruption units of the territorial internal affairs bodies and suggest measures to improve the efficiency of the work being done.Materials and methods. When writing the work, the author used the methods of mathematical statistics; methods of the general theory of statistics, namely, relative, absolute and average values, methods of synthesis and analysis. For visual display of statistical data, graphical and tabular methods of data visualization were used. The information and empirical base was compiled by data on crimes in this area of the Main Information and Analytical Center of the Ministry of Internal Affairs of Russia, the Judicial Department under the Supreme Court and the General Prosecutor’s Office of the Russian Federation.Results of the research. When writing the article, a quantitative assessment of the state of crime in the field of information technology was made, the main objects of attack by cybercriminals were identified; the most characteristic features and methods of committing crimes in the field of information technology were described. A statistical classification system for assessing the level of cybercrime is proposed. The effectiveness of the work carried out by law enforcement agencies to counter these criminal manifestations has been analyzed. Various ways of increasing the efficiency of the work of law enforcement agencies are proposed. When analyzing the law enforcement practice, a number of problems were identified related to the proof of crimes of this orientation, namely, insufficient interaction between law enforcement agencies, on the one hand, and financial institutions, telecommunication service providers, on the other hand.Conclusion. The author proposes ways to improve the quality of the verification measures to identify persons involved in the commission of crimes in the field of information technology, as well as to assess the effectiveness of economic security and anti-corruption units of territorial internal affairs bodies in identifying this category of crimes. These measures are not exhaustive; in order to increase the effectiveness of countering cybercriminals, it is necessary to apply a systematic approach aimed not only at improving the quality of the work of law enforcement and investigative agencies, improving the software system and material and technical equipment, but also improving information support of the banking sector, increasing bank response measures, and most importantly, the literacy of the population.
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Oke, Tayo. "Financial crime prosecution, legal certainty and exigency of policy: case of Nigeria's EFCC." Journal of Financial Crime 21, no. 1 (December 20, 2013): 56–65. http://dx.doi.org/10.1108/jfc-06-2013-0044.
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Purpose – In its fight against money laundering involving politically exposed persons (PEPs), the Economic and Financial Crimes Commission (EFCC) has the dual mandate of maintaining equilibrium between two fundamental, but sharply contradictory objectives: establishing guilt beyond a reasonable doubt, and responding to the policy imperative of nipping corruption in the bud through a pro-active involvement in preventative measures. This paper contends that as a result of the tension between these two divergent ends, the agency has found itself the spider in a cobweb of legalism designed by its adversaries to stymie its operations. Furthermore, and as a matter of priority, the paper calls for a major rethink of the appropriateness of criminal jurisdiction in the prosecution of financial crimes in Nigeria and elsewhere in Africa. The paper aims to discuss these issues. Design/methodology/approach – Case study and textual analysis of literature. Findings – Civil jurisdiction of extracting the proceeds of the criminal activities of PEPs provides a better mode of deterrence than any criminal sanction could hope to achieve. Originality/value – Creative in deciphering a major root cause of the ineffectiveness of criminal sanction as an anti-corruption weapon.
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Polstovalov, Oleg Vladimirovich, and Rushan Radikovich Galiautdinov. "Organized forms of online fraud: types of fraud in the field of computer information and the use of high technologies." Юридические исследования, no. 11 (November 2023): 120–27. http://dx.doi.org/10.25136/2409-7136.2023.11.44223.
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Law enforcement and judicial practice in Russia has faced a mass of previously non-existent types of fraud. New types of fraud appeared in the field of computer technology and the use of high technologies. Along with this, the development of economic sectors, the credit and financial system, commercial banks, the emergence of new information, banking technologies, technical means of communication have generated organized forms of online fraud. Primitive forms of fraud are being replaced by more sophisticated ones, new technologies are penetrating into our lives, so forms of fraud using chat gpt, that is, neural networks, have appeared. The above circumstances justify the relevance of the research topic. The subject of the study is various types of fraud in the field of computer information and the use of high technologies and the specifics of their commission. The novelty of the topic of the publication is due to the need for a thorough study of new organized forms of online fraud to prevent the commission of such crimes. For the first time, "modification" as a method of computer fraud, a neural network, as a way of committing fraud, was investigated. An attempt has been made to characterize an organized criminal group committing online fraud. Digital traces of organized forms of online fraud have been investigated. The purpose of this publication is to highlight the features of the commission of organized forms of online fraud. Their allocation will help to effectively solve such crimes. The article uses various methods: general dialectical, logical, analysis of regulatory regulation, formal legal, comparative legal. Conclusions: on the basis of theory and law enforcement practice, the key elements of organized forms of online fraud are identified, the key features of organized criminal groups that commit them are characterized, the role of neural networks in the commission of the crimes under consideration is established.
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Nekrasov, Veniamin A., Dmitry S. Plokhoy, and Ivan A. Chukanov. "Investigation of Crimes in Financial Institutions in the 19th Century (Based on Materials of the Simbirsk Province)." Economic History 20, no. 1 (March 30, 2024): 28–43. http://dx.doi.org/10.15507/2409-630x.064.020.202401.028-043.
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Introduction. The article on a wide archival base analyzes the process of forming urban public banks and investigating crimes in the banking sector in the 19th century. The article reveals the main reasons for crimes and abuses in the banking sector, which were caused, firstly, by the special status of city public banks, and secondly, by weak control over their activities by the city government bodies (city councils) in whose jurisdiction they were. The background of the emergence of commercial private and joint-stock banks in Russia is briefly described. The main area of research was related to investigations of criminal activities in the banking sector, the use of methods for solving crimes in the economic sphere existing at that time on the effectiveness of the investigation of criminal acts in the banking sector in the Simbirsk and Saratov province. Materials and Methods. The work widely used the historical and legal method, which made it possible to consider the investigative process in the banking sector through the prism of the evolution of the legislation of the Russian Empire on investigative bodies with the definition of socio-economic conditions affecting the course and effectiveness of investigations in the banking sector. Modernization theory was also actively used, which made it possible to determine the main directions of evolution of the work of judicial investigators during the rapid development of the credit and banking sector in the country during its socio-economic reform during the period of great reforms carried out by the government of Emperor Alexander II. Results. As noted in the above material, the disclosure of crimes committed by the management and management of city public banks were the most difficult to solve if we take the economic sphere as a whole. The authors reveal the reasons for the difficulties faced by the judicial investigators of the District Courts in investigating such crimes, created during the evolution of the system of joint-stock commercial banks in Russia, and also analyze the discussion that arose in the law enforcement environment among legal scholars about the most applicable and effective forms of investigative work in exposing such crimes. Discussion and Conclusion. The main reasons for the low overall performance in solving crimes in the credit and financial sector were the low general and specific economic qualifications of judicial investigators, as well as the erroneous policy of the management of the District Courts, which were sent by the least experienced specialists to investigate the most time-consuming in the investigation of economic crimes, and especially offenses in the banking sector. The authors point to a huge labor intensity in investigating such cases, when checking a huge number of reports, balance sheets and other financial documents required the involvement of a significant number of additional assistants qualified in the banking sector. Particular emphasis is placed on the fact that during the period under review, a system of moral and material incentives for specialists involved in investigative actions during the investigation of the most complex crimes was not established. There was a hidden reluctance of the city and provincial authorities to bring such investigations to the end, since such financial institutions could not be withdrawn from the financial turnover of provinces and cities for a long time, and their imminent bankruptcy and even temporary closure for the period of the investigation necessarily led to severe socio-economic consequences not only within the framework of a single city, but also the region as a whole. Some leaders of cities and urban dumas were afraid that the complete exposure and prosecution of criminal schemes would inevitably highlight their negative participation in the commission of these crimes. Huge difficulties in the investigation of such crimes were also caused by a misunderstanding on the part of the higher authorities of the complexity and public significance of the ongoing investigations, which required the judicial investigators accountable to them to complete the investigations of crimes in the banking sector as soon as possible, which inevitably affected the quality of the ongoing investigations.
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Ezeji, Chiji Longinus. "DISRUPTIVE TECHNOLOGY ON THE CYBERSPACE: THE CONTESTATION BETWEEN CRIMINAL JUSTICE SYSTEM AND CYBERCRIMINALS." Caleb International Journal of Development Studies 05, no. 01 (June 30, 2022): 197–214. http://dx.doi.org/10.26772/cijds-2022-05-01-012.
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The paper examines the contestation between criminal justice system and cybercriminals. Qualitative methodology was adopted for collecting data. The study sample was drawn from Nigeria Police Crime prevention and Investigative Unit, Cyber forensics experts, officials from the Economic & Financial Crimes Commission (EFCC), Cyber security experts, acadamics in Criminology and Security Studies, judges and prosecutors. Theses were interviewed to obtain information on the running battle between the authourites and the criminal elements. Findings revealed that cyber crime increased exponentially despite the promulgation of cybercrime prevention and prohibition Act of 2015. It was reported that Nigeria youth used the lack of empowernment as their excuse to engage in cybercrime. Findings also revealed varied corps of victims, people and local businesses in Nigeria. The paper recommends the need to campaign for moral regeneration, educating internet users on how to stay protected online, appeals for atitutude change among the youths, and those involved in cybercrime, specialised trainng for criminal justice officials to enable them tackle cyber related crimes.above all, the criminal justice system must be swift in apprehension, prosecution and setencing offenders.
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Opudu, Okubokeme Derek, and Stanley Ogoun. "Money laundering conviction rate and capital formation in Nigeria." Accounting 9, no. 2 (2023): 121–30. http://dx.doi.org/10.5267/j.ac.2022.12.001.
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Drawing from the Financial Action Task Force (FATF, G7) recommendations and the Nigeria Anti-Money Laundering Act that provides the penance and dissuasion for crimes in Nigeria, this study sought to interrogate the efficacy of money laundering conviction rate as an instrument of anti-money laundering policy on capital formation in Nigeria. The study is hinged on contemporary deterrence theory. The study adopted the ex-post facto research design and used quarterly data from 1Q 2010 to 4Q 2019, which was sourced from the Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crime Commission (EFCC) and CBN statistical reports. Hence, Error Correction Model (ECM) was utilized to analyze the data. The findings indicate that the current money laundering conviction rate (MLCR) has a negative and non-significant effect on capital formation in Nigeria. Therefore, the study concludes that the current conviction rate is too weak to deter the act. Hence, it is recommended that the judicial system be rejigged with enabling legislation and autonomy to strengthen it to hasten the trial of such cases and ease conviction of culpable individuals, without necessarily putting innocent victims at jeopardy. Such autonomy should also be granted to the EFCC, ICPC, NFIU etc. and inter-agency synergy should be encouraged.
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Galinskaya, A. E. "The Use of Special Knowledge by Defense in Economic Crime Investigations." Theory and Practice of Forensic Science, no. 4(44) (December 30, 2016): 46–53. http://dx.doi.org/10.30764/1819-2785-2016-4-46-53.
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The paper examines actions taken by defense when financial and economic assessment is warranted in the course of economic crime investigation; the order of commission of financial and economic assessment by the investigator or court in order to establish a fact of bankruptcy fraud; capacity of the defense to contest expert testimony; errors committed by forensic economists when conducting financial and economic assessment in the criminal investigation of bankruptcy fraud; ways to prevent forensic expert mistakes; the wording of conclusions in the expert witness report; problems associated with the use of uncertified methodologies of forensic assessment; attitudes demonstrated by various courts within the Russian justice system towards the use of special knowledge by defense economic crime investigations, including the position of the European Court of Human Rights (ECtHR) in light of the European Convention; procedural and non-procedural documentation used by the defense in economic crime investigations.
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Lawson, Letitia. "The politics of anti-corruption reform in Africa." Journal of Modern African Studies 47, no. 1 (February 18, 2009): 73–100. http://dx.doi.org/10.1017/s0022278x08003662.
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ABSTRACTPrevious research on anti-corruption reform in Africa falls into two camps. The first explores ‘best practices’ and policy approaches to controlling corruption, while the second focuses on the politics of anti-corruption ‘reform’, arguing that official anti-corruption campaigns aim to mollify donors while using corruption charges instrumentally to undermine rivals and shore up personal loyalty to the president, and thus have no chance of controlling corruption. This paper suggests that, while the neopatrimonial context is a very significant limiting factor in anti-corruption reform, limited progress is possible. Examining the motivations and effects, intended and unintended, of anti-corruption reforms in Kenya and Nigeria, it finds that while the Kenya Anti-Corruption Commission has indeed been politically marginalised and largely ineffectual, the more autonomous and activist, but politically instrumentalised, Economic and Financial Crimes Commission in Nigeria has had a measure of success. The analysis suggests that this is explained by the EFCC's independent prosecutorial powers and the institutionalisation strategies of its chairman.
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Edeh, Joseph Nwokpoku, Paul Monday Nwokwu, and Kenneth Igwe Ugbala. "Economic and Financial Crimes Commission’s (EFCC) performance in combating corruption in Nigeria: Buhari’s administration in perspective (2015-2020)." International Journal of Development and Management Review 17, no. 1 (June 14, 2022): 123–45. http://dx.doi.org/10.4314/ijdmr.v17i1.8.
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Corruption remains a cankerworm that has continued to hinder genuine efforts towards development in Nigeria. Several efforts have been put in place to curb the menace but it still manifests in various forms. This study was carried out to specifically examine the extent to which the Economic and Financial Crimes Commission has reduced money laundering in Buhari’s regime; to find out the extent to which the EFCC has reduced cybercrimes in Buhari’s regime and to assess how the EFCC has reduced the incidences of embezzlement of public funds in Buhari’s administration. The study was anchored on Deterrence theory espoused by Cesare Beccaria in 1764. The study adopted content analytical technique to analyze data for the study. The study revealed the following among others: that the EFCC has not significantly reduced money laundering in Buhari’s regime; that the EFCC has demonstrated commitments towards reducing cybercrimes in this regime and that the EFCC has not significantly reduced incidences of embezzlement of public fund in Buhari’s regime. The study concluded that development will continue to elude our country as long as corruption continues to ravage the polity. The study therefore, recommended among others that the operatives of the EFCC should always carry out thorough investigations in order to win more cases of money laundering.
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Chidera Rex, Obiwuru. "The Performance of the Economic and Financial Crimes Commission (EFCC) in the Fight against Corruption in Nigeria: A Critical Appraisal." Economy 7, no. 1 (2020): 52–58. http://dx.doi.org/10.20448/journal.502.2020.71.52.58.
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Kolo, Baba Gana. "Perception of the Performance of Economic and Financial Crimes Commission (EFCC) in Darazo Local Government Area of Bauchi State, Nigeria." OALib 10, no. 06 (2023): 1–14. http://dx.doi.org/10.4236/oalib.1110021.
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Kehinde, Adeola Olufunke, Oyebanji Aderemi, and Abifarin Olufemi. "TOWARDS FEDERALIZATION OF NIGERIAN UNITARIZED JUDICIARY." AGORA INTERNATIONAL JOURNAL OF JURIDICAL SCIENCES 15, no. 2 (December 24, 2021): 29–36. http://dx.doi.org/10.15837/aijjs.v15i2.4655.
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This paper examines federalism as a concept, its adoption to governance in Nigeria through the constitution. The constitution is examined with a view of showing elements of unitarism instead of the federalism the constitution proclaims for Nigeria. In this regard, we examined the creation of federation account, statutory allocation of revenue to states and local government and what it portends for a federation. Conduct of general Election on a date for the central government and all the states of the federation is observed as an aberration in a federal state, so also is the creation of a National electoral commission for both the central and state governments. Creation of central judiciary for both the National and state government with institutions like Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC) is also an aberration in a federation. The paper is concluded by contrasting Nigerian federation with American federation with a recommendation for true federation modeled along American system so as to ensure peace, order, good governance and security of the nation. This will be a form of devolution of power which can ensure Nigeria’s unity and erase agitation for balkanisation of Nigeria.
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Duke, Otu, and Dickson Agbaji. "The Pursuit of Good Governance and the Anti-Financial Corruption Blitz in Nigeria: A Study of the Economic and Financial Crimes Commission (EFCC) (2003-2016)." Asian Research Journal of Arts & Social Sciences 2, no. 4 (January 10, 2017): 1–16. http://dx.doi.org/10.9734/arjass/2017/32115.
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Durmaz, Dr Yakup, and Harun Birlik. "A THEORETICAL APPROACH TO THE PROCESS OF INTERNATIONALIZATION OF SME's." INTERNATIONAL JOURNAL OF COMPUTERS & TECHNOLOGY 12, no. 4 (January 4, 2014): 3366–72. http://dx.doi.org/10.24297/ijct.v12i4.3182.
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In recent times, small and medium-sized enterprises (SMEs) have become a familiar form of business organization. They have a significant contribution on economic development creating significant number of jobs around the world. Elo (2005) mentions; SMEs are the largest source of employment which plays a considerable role at regional and international level enhancing innovativeness. According to the European commission the ratio of SMEs to the number of inhabitants are 58 SMEs per 1000 inhabitants (European commission 2011). Total workforce generated by SMEs was 33% on private sector in 2005 and it has increased to 59% (European Commission 2011). SMEs were struggling with economic and financial crises in 2008. Despite this fact, recent research has shown that most of the SMEs are in recovering phase. Nevertheless,SMEs have been contributing significant amount of growth in the economy. Therefore, the importance of SMEs cannot be neglected. Furthermore, SMEs are generating approximately 90 million jobs all around Europe with contribution on innovation and economic growth. (EU commission 2011).
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C, Ndukwe, Ogo David, and Nwuzor Iroko. "Impacts of the Fight against Corruption by the Economic and Financial Crimes Commission in Promoting Good Governance and Accountability in Nigeria." Journal of Public Policy and Administration 8, no. 2 (February 28, 2023): 21–31. http://dx.doi.org/10.47604/jppa.1796.
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Purpose: This study investigated the impact of the fight against corruption by the EFCC in promoting good governance and accountability in the current administration of president Muhammadu Buhari. Specifically the paper sought to examine the extent to which the fight against corruption by the EFCC have promoted good governance and accountability in Nigeria today.
Methodology: The methodology adopted is qualitative method of data collection and analysis where some informants with an experience and classified information on the subject matter were consulted for interview. The paper adopted Richard A Joseph (1996) Prebendalism theory on corruption. The data obtained was interpreted for analysis and findings.
Findings: The paper discovered that as laudable as the intentions and effort of the government to curb corruption through the EFCC and laws, they have left much to be desired. Infact the fight against corruption by the EFCC are of limited value because they fail to take into account much of the dymanics that support corruption making people now regard the EFCC as a tool to fight political enemies of the current administration.
Unique Contribution to Theory, Practice and Policy: The paper therefore recommends among others the need for greater transparency by the EFCC in combating corruption if its effort must promote good governance and accountability in Nigeria
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Abdulrauf, Lukman Adebisi. "Using Specialised Anti-Corruption Agencies to Combat Pervasive Corruption in Nigeria: A Critical Review of the ICPC and EFCC." African Journal of Legal Studies 12, no. 3-4 (May 14, 2020): 215–41. http://dx.doi.org/10.1163/17087384-12340050.
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Abstract The use of specialised anti-corruption agencies (ACAs) to combat corruption is increasingly popular among African countries. This is no surprise considering the successes these agencies have recorded elsewhere in the world, on the strength of which they have been described as ‘the most innovative feature of the anti-corruption movement of the last two decades’. Yet while ACAs have been successful in other parts of the world, the same cannot be said of those in Africa generally and Nigeria in particular. Even with two ACAs – the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) – corruption continues to soar in the country, making it necessary to examine the flaws of Nigeria’s ACAs. Focusing on a number of key characteristics of ACAs, this article analyses the role of the ICPC and EFCC in combating corruption in Nigeria. The main question the article seeks to answer is why corruption should be on the increase despite the fact that two specialised ACAs have been in existence for close to two decades.