Point of Sales, POS, operators in Kwara State, under their umbrella body, Kwara Association of Professional Point of Sale Agents, KAPPSA, have expressed readiness to work with the Economic and Financial Crime Commission, EFCC, stating that such move will further assure customers and their members of security in electronic money transfers and e-commerce.
The body took this message to the Ilorin Zonal Command of EFCC, where they met Michael Nzekwe, Zonal Commander of the agency, earlier in the week on Tuesday.
The Chairman of KAPPSA, Opakunle Ridwan Ayinde explained that it has become imperative for the association to team up with agency as means of securing transaction and instill customer confidence in their business.
He also llauded the Ilorin Command of the Commission for its efforts to sensitize the association through continuous engagements and trainings, which he said, would greatly sanitise the business.
He informed the Zonal Commander that as part of efforts to sanitise the POS operators in Kwara State, the association had created a unit called “Crime Unit” and a Task Force to work with EFCC and other agencies to ensure compliance of members with extant regulations.
Nzekwe, responding to KAPPSA charged the Point of Sale (POS) operators to carry out proper documentation of their clients before transactions are made as means of checking money laundering and other illicit financial transactions.
Nzekwe met the association at the Commission’s Office, GRA, Ilorin.
The EFCC zonal commander stated that, the number of reported cases regarding fraudsters using the POS medium to launder money and to swindle unsuspecting individuals of their monies was appalling adding that POS operators as stakeholders in the fight against money laundering must ensure they carry out due diligence and adhere strictly to the regulations provided by law.
While admonishing the POS operators to filter and flush out the bad eggs among them, the Zonal Commander stressed the need for the association to sensitize its members on the laws guiding their activities as ‘‘ignorance is not acceptable in law.’’
“There is need for you to obey the ‘Know Your Customer’ otherwise called KYC policy in every financial transaction you make as enshrined in Section 3 of the Money Laundering (Prohibited) Act 2011 (as amended)”, he said.
He went further by urging members of the association to create a database where details of customers including their names, valid means of identification, address, phone numbers would always be kept as “this is the only way you can absorb yourself of being complicit in criminal activities perpetuated by fraudsters through your medium’.
Apart from the KAPSSA President, other members of the group’s association included, Kayode Olatunji Mose, General Secretary of the association; Alh Yakub Abdulmumineen Aduagba Gowon, BOT Chairman; Alh Nasir Salaudeen Treasurer; Olukayode David, PRO; Mrs Olabisi Otetubi; Social Director.
