The Nigeria Financial Intelligence Unit (NFIU) has expressed concern over suspected fraudulent petitions before the body involving individuals and entities to the tune of over €36 billion. In an advisory on fraudulent petitions involving the tracing and recovery of electronic wire transfers from foreign banks into accounts in Nigeria banks, the NFIU stated that it observed that most of the funds were transferred from top financial institutions in Europe. The NFIU accused some law firms of accepting briefs relating to tracing and recovery of huge sums of money wired via the SWIFT Network from entities and individuals (clients) and immediately
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