SFU probes 600 fraud cases in one year

The Special Fraud Unit, an arm of the Nigeria Police Force,  has investigated almost 600 fraud cases and recovered billions of naira in the last one year.
This was disclosed to press men   by the commissioner of police in charge of SFU, Tunde Ogunsakin, during a press conference to herald the unit’s forthcoming workshop
The workshop, entitled:“ Corporate Fraud : Insider abuse in financial institution and the implication on developing economy” is part of the efforts of the Nigeria Police Force and City of London police to combat financial crime in Nigeria
The SFU police boss said that the “Police Special Fraud Unit has made a remarkable feat in the last one year through recovery of proceeds of fraud running in billions.”
He also added that the unit had investigated about 600 fraud cases and other related financial crime cases in the last one year.
He enumerated the challenges of the unit in handling bank fraud to include: lack of well equipped forensic laboratories, lack of data base of criminals, inadequate legislation, high cost of  investigations, inadequate working tools, inadequate collaboration with private sector and inadequate international collaborative framework, among others
Ogunsakin said that the workshop, which will hold between 1st and 5th of July, is geared towards exploring ways in which financial institutions can be reinforced. In their ability to be effective gate keepers against fraud
“ The programme is expected to sign a post global witness into the role of financial institutions in facilitating corruption and how they can fight corruption” the Police boss said
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