Nigeria's NFIU deploys AI and ML to combat money laundering, terrorism financing, and remove from FATF grey list by 2025.

Nigeria's Financial Intelligence Unit (NFIU) is deploying AI and machine learning tools to combat money laundering, terrorism financing, and improve its efficiency in fighting financial crimes. NFIU CEO, Hafsat Bakari, aims to remove Nigeria from the Financial Action Task Force (FATF) grey list by May 2025, through strengthening technology platforms, international partnerships, and information sharing. The NFIU has also transitioned to a digital workflow and implemented a secured Crimes Records Information Management System for encrypted information sharing.

August 19, 2024
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