Federal Government urged to set up Economic Crime Strategic Committee
Financial Crime Compliance Practitioner Richard Anthony has called on the President Buhari led administration to urgently set up Financial Crime Strategic Committee with capability to respond to evolving global development challenges emanating from COVID-19.
Richard said, the effects of recent global pandemic set up development priorities for governments across borders and only the smart and strategic thinking leaders can overcome the future.
For me, the benefits of the Presidential Committee would be:
*Advise on policy formulation resulting from changing complexities that could impact on the financial services such as data sharing, new technology, new legislative measures, terrorist financing, and money laundering.
* A think tank for encouraging new technology in financial integrity. Innovative governance measures across different tiers of government covering the private sector with emphasis on the financial institutions – the gatekeeper.
* To formulate policy advise on global regulatory requirements that impact on effective performance of the financial services. Identify areas of improvement, address laxity, monitor and review policy advise.
* To identify and advise on international cooperation with relevant inter- governmental bodies, and other core international financial regulators to ensuring full grasp of trends in financial integrity and collective intelligence.
* collaborate with other relevant government agencies in Nigeria in policy advise, compliance and regulatory advancements.
Notably, the essence of this Committee is to provide sound researched based financial integrity, regulatory requirements and compliance measures for government policy formulations with enhanced collaboration with government agencies. Financial intelligence adviser to the President.
LL.M( CEDR. Accredited Mediator UK), Financial Crime Compliance Practitioner
Financial Crimes Compliance Practitioner