{"id":49753,"date":"2021-09-08T16:11:48","date_gmt":"2021-09-08T15:11:48","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/?p=49753"},"modified":"2021-09-08T15:16:00","modified_gmt":"2021-09-08T14:16:00","slug":"criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa","title":{"rendered":"Criminals now prefer bitcoin, ethereum \u2013 EFCC chair, Bawa"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>Chairman of the Economic and Financial Crimes Commission (EFCC) says bitcoin and ethereum are now criminals\u2019 favourite means of exchange.<\/p>\n

He called for collaborative approach by authorities around the world in dealing with financial crimes.<\/p>\n

Bawa spoke at the 38th Cambridge International Symposium on Economic Crime, themed, \u201cEconomic Crime-Who pays and who should pay?\u201d.<\/p>\n

The discourse was organized by the Center for International Documentation on Organized and Economic Crime (CIDOEC), Jesus College, University of Cambridge, United Kingdom.<\/p>\n

Bawa said economic crimes, which are largely illegal acts committed for private gain, affect global economies and deprive developing nations of resources for sustainable development.<\/p>\n

The anti-corruption chief said the new typologies of economic crimes such as the growth of cryptocurrencies portray greater danger.<\/p>\n

Crypto has no value, can be manipulated \u2013 China\u2019s statement crashes bitcoins [Full text]<\/p>\n

\u201cCriminals now elect to transact or receive illegal monies, such as ransom money, for cyber-attacks in cryptocurrencies with bitcoin and ethereum as the most commonly used medium of these exchanges,\u201d he said.<\/p>\n

Bawa said as victims continue to suffer from the effects of financial crimes, the determination of who pays or who should pay becomes a critical measure of the criminal justice system.<\/p>\n

He noted that under the President Muhammadu Buhari administration, reforms such as Treasury Single Account and Whistle Blower Policy have recorded milestones in investigations, prosecutions and assets recovery.<\/p>\n

Bawa confirmed that the EFCC has recorded more than 3,500 convictions and recovered assets of significant value including properties in Nigeria, UK, USA, and UAE.<\/p>\n

Chairman of the Symposium, Saul Froomkin thanked the EFCC boss for his presentation and the support received from Nigeria in organizing the event.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Chairman of the Economic and Financial Crimes Commission (EFCC) says bitcoin and ethereum are now criminals\u2019 favourite means of exchange. He called for collaborative approach by authorities around the world in dealing with financial crimes. Bawa spoke at the 38th Cambridge International Symposium on Economic Crime, themed, \u201cEconomic Crime-Who pays and who […]<\/p>\n","protected":false},"author":84,"featured_media":49752,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,3046,2297,68,5352,254],"class_list":["post-49753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-bawa","tag-bitcoin","tag-efcc","tag-ethereum","tag-nigeria"],"yoast_head":"\nCriminals now prefer bitcoin, ethereum \u2013 EFCC chair, Bawa - Nigeria<\/title>\n<meta name=\"description\" content=\"Chairman of the Economic and Financial Crimes Commission (EFCC) says bitcoin and ethereum are now criminals\u2019 favourite m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Criminals now prefer bitcoin, ethereum \u2013 EFCC chair, Bawa\" \/>\n<meta property=\"og:description\" content=\"Chairman of the Economic and Financial Crimes Commission (EFCC) says bitcoin and ethereum are now criminals\u2019 favourite m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-08T15:11:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6138c5811fd85.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"719\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Criminals now prefer bitcoin, ethereum \u2013 EFCC chair, Bawa\",\"datePublished\":\"2021-09-08T15:11:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\"},\"wordCount\":284,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6138c5811fd85.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"bawa\",\"Bitcoin\",\"EFCC\",\"ethereum\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/criminals-now-prefer-bitcoin-ethereum-efcc-chair-bawa\",\"name\":\"Criminals now prefer bitcoin, ethereum \u2013 EFCC chair, Bawa - 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