Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 03ABUJA158, NIGERIA: MONEY LAUNDERING SECTION OF 2002 INCSR

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #03ABUJA158.
Reference ID Created Released Classification Origin
03ABUJA158 2003-01-27 08:31 2011-08-25 00:00 UNCLASSIFIED Embassy Abuja
This record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS SECTION 01 OF 02 ABUJA 000158 
 
SIPDIS 
 
 
FOR INL 
 
 
E.O. 12958:  N/A 
TAGS: SNAR KCRM EFIN NI
SUBJECT: NIGERIA: MONEY LAUNDERING SECTION OF 2002 INCSR 
 
The following is Post's submission of the Nigeria section 
of the 2002 INCSR Money Laundering Chapter. 
 
 
Nigeria. 
-------- 
 
 
The Federal Republic of Nigeria is Africa's largest 
democracy. It is a hub of money laundering and criminal 
activity not only for the West African sub-region but also 
increasingly for the entire continent. Nigerian trafficking 
and money laundering organizations have proven adept at 
devising new ways of subverting law enforcement efforts, 
and evading detection. Their success in avoiding detection 
and prosecution has led to an increase in financial crimes 
of all types, including bank fraud, advance fee fraud, and 
money laundering. Despite the determined efforts of the new 
government to counter years of rampant corruption, crime 
continues to plague Nigerians. 
 
 
Nigerian Advance Fee Fraud is one of the most lucrative 
financial crimes committed by Nigerians. Conservative 
estimates indicate hundreds of millions of dollars in 
illicit profits generated annually. This type of fraud is 
referred to internationally as "Four-One-Nine-Scams," (419 
is the Nigerians criminal code's section on fraud). The 
gist of a "419" scam is to trick victims by persuading them 
that they will receive an exorbitant return for providing a 
relatively modest payment of a fictitious fee in advance. 
Businesses and individuals around the world have been and 
continue to be targeted by these "get rich quick" offers. 
These scams often go beyond confidence games; violence 
against the fraud victims has also occurred.  Substantial 
evidence exists that narcotics traffickers have utilized 
419 Scams to fund their illicit smuggling efforts. 
 
 
The Financial Action Task Force (FATF) in June 2001 and in 
June 2002 designated Nigeria as a Non-Cooperating Country 
or Territory for failing to improve its money laundering 
controls and failing to cooperate with repeated FATF 
requests for information.  In October 2002, FATF gave 
Nigeria  a deadline of December 15, 2002 to adopt necessary 
anti-money laundering legislation or face "counter- 
measures" by FATF members.  Although proposed legislation 
had been held up  in the National Assembly, the GON worked 
energetically in the last months of 2002 to pass 
legislative reforms.  The National Assembly, meeting in 
emergency session on December 14, 2002, passed three key 
pieces of anti-money laundering legislation:  an amendment 
to the 1995 Money Laundering Act, that extends the scope of 
the law's coverage beyond the proceeds of drug trafficking 
to the proceeds of all crimes; an amendment to the 1991 
Banking and Other Financial Institutions (BOFI) Act that 
expands coverage of the law to stock brokerage firms and 
foreign currency exchange facilities and gives the Central 
Bank of Nigeria greater power to deny banks licenses and to 
freeze suspicious accounts; and the new Financial Crimes 
Commission Act that creates a central law enforcement body 
to coordinate anti-money laundering operations and 
information sharing. 
 
 
The National Drug Law Enforcement Agency (NDLEA) and the 
Money Laundering Surveillance Unit (MLSU) of the Central 
Bank of Nigeria will continue to play a role in fighting 
money laundering, but they will no longer have the lead 
roles -- that role will fall to the new Financial Crimes 
Commission.   Under the new legislation passed on December 
14, 2002, financial institutions are required to report 
cash transactions that exceed N1,000, 000 (U.S. $8,800) for 
an individual and N5 million (U.S. $45,000) for corporate 
bodies.  Identification of customers is required when a 
transaction exceeds the threshold amount of U.S. $10,000 or 
its equivalent. 
 
 
In passing these laws, Nigeria met the FATF's immediate 
demand (the December 15, 2002 deadline) of expanded 
coverage of its money laundering laws beyond narcotics 
trafficking and making financial institutions' reporting 
requirements more effective.  The additional legislation -- 
extending coverage of anti-money laws to other financial 
institutions, providing the Central Bank of Nigeria with 
the powers to freeze suspicious accounts and deny licenses 
to banks suspected of money laundering, and creating a 
central coordinating body and financial intelligence unit - 
- go a long way toward bringing Nigeria's money laundering 
control regime into conformity with international 
standards.  Nigeria is well positioned to continue its 
dialogue with the FATF towards the goal of ending its 
designation as a Non-Cooperating Country or Territory. 
 
 
Creation, staffing and the operations of the new Financial 
Crimes Commission will be critical to the effectiveness of 
the new laws.  The Commission should second experienced 
staff from various law enforcement agencies; it should also 
build up its own cadre of professional investigators.  We 
encourage the Government of Nigeria to fund adequately this 
important new Commission and we hope to provide the 
Commission's new staff technical assistance and training. 
With trained staff and adequate operational funding, the 
new Commission can begin to obtain court convictions on 
money laundering cases it investigates, a much needed 
departure from the past lack of money laundering 
convictions. 
 
 
The Corrupt Practices and other Related Offences Act was 
signed into law in June of 2000. The Independent Corrupt 
Practices Commission was established to enforce the newly 
enacted law and granted powers of investigation, arrest and 
prosecution.  The Commission's first public trials began in 
May 2001. Nigeria is a party to the 1988 UN Drug Convention 
and in June 2001 provided notification that it had ratified 
and the 2000 UN Convention against Transnational Crime, 
which is not yet in force internationally. The United 
States and Nigeria signed an MLAT in 1989, which was 
ratified by the United States in 2001, and is currently 
pending approval by the Nigerian Parliament. 
 
 
(end). 
 
 
JETER