THELOGICALINDIAN - The administrator of Nigerias Economic and Financial Crimes Commission EFCC Abdulrasheed Bawa has singled out the advance of cryptocurrencies as article that now poses a far greater crisis to the apple abridgement Therefore in adjustment to accord with such dangers or threats Bawa advocates for a aggregate and collaborative access by authorities about the world
Economic Crimes Harm the Global Financial System
According to a report by Vanguard, the EFCC administrator fabricated these animadversion while speaking at a appointment organized by the Centre for International Documentation on Organized and Bread-and-butter Crime (CIDOEC). Meanwhile, at the aforementioned affair which was organized to altercate the amount of bread-and-butter crimes and who should bottom this bill, Bawa is quoted answer why countries charge coact on this. He said:
Bawa additionally warned that developed countries, aloof like their beneath developed counterparts, are not allowed from a affliction that has been abstract by “the admeasurement of cyber-crimes which threatens the adherence of all-around banking institutions.” To drive home this point, Bawa uses the archetype of how abyss are now allotment “to transact or accept actionable monies [such as bribe money]for cyber-attacks in cryptocurrencies.”
Economic Crime Victims Must Not Bear the Cost
In the meantime, the EFCC armchair additionally delved into the affair of who should buck the costs of bread-and-butter crimes. The address quotes Bawa answer his angle on this matter. He said:
“As the victims of abomination abide to ache globally from the furnishings of banking crimes, either anon or alongside as allotment of a amusing system, the assurance of who pays or who should pay becomes a analytical admeasurement of the bent amends arrangement in place.”
Still, the EFCC administrator is determined “that perpetrators and not the victims” should be fabricated to pay for the crimes.
Do you accede with Bawa’s animadversion about cryptocurrencies? Tell us what you anticipate in the comments area below.
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