The Nigerian Financial Intelligence Unit (NFIU) has raised alarm over a surge in fraudulent petitions involving alleged foreign electronic wire transfers, urging tighter collaboration among banks, law firms, law enforcement, and the public.
In a formal advisory, the NFIU revealed that fraudsters often use forged documents, fake transactions, and doctored SWIFT messages to deceive victims.
These scams typically involve newly opened bank accounts and fabricated MoUs, with law firms unknowingly roped in to add legitimacy.
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Warning signs include large, unverifiable wire amounts, inconsistent documentation, and companies with no prior financial activity.
To combat this threat, the NFIU calls on financial institutions to conduct Enhanced Due Diligence, verify SWIFT messages, reject suspicious claims, and file reports to the unit.
Law firms are advised to thoroughly vet clients and documents, while the public is urged to remain skeptical of too-good-to-be-true investment offers.
The agency stressed that collective vigilance and information sharing are key to dismantling fraud networks and safeguarding Nigeria's financial integrity.
