The international community has witnessed the use of increasingly
sophisticated methods to move illicit funds through the financial
systems across the globe, some of which are used to finance terrorism.
The continued abuse of some off-shore financial centres and the
proliferation of internet banking have further increased the need for
more effective detection and checks on money laundering and
terrorist-financing schemes. Left unchecked, some perpetrators expand
their criminal pursuits, fostering such illegal activities as
corruption, drug trafficking, human trafficking, arms trafficking,
smuggling and terrorism. The book focuses on, among other related
matters, the relative effectiveness of Nigerian laws in curbing money
laundering and terrorist financing, as well as the extent of compliance
with international legal standards for combating money laundering and
terrorist financing, including creating a legislative and enforcement
framework for the implementation of international instruments for
combating both menaces. The general conclusion is, in spite of the
efforts, much is still left to be done.