IPOB, criminals using betting sites and crowdsourcing to finance terrorism - NFIU

Through international crowdsourcing and sports betting platforms, the Nigerian Financial Intelligence Unit has shown that bandits, the Indigenous People of Biafra, and other terror groups are purportedly supporting terrorist actions in Nigeria.

The financial intelligence section made public how IPOB obtained funding via associates in 22 nations that had at least 27 organizations registered in their names.

Six of the registrations were made in the United Kingdom, according to the NFIU, while seven were done in the United States.

It further stated that more than $160,000 in crowd-funding funds raised by IPOB were distributed to media, broadcasting, and transmission companies in Bulgaria, South Africa, and the United Kingdom.

It added that “The analysis further indicates that the group (IPOB) has several bank accounts in different countries where funds are being received from various contributors with the narrations ‘monthly dues, services and for ESN,’ among others, then later disbursed for various operations.”

PUNCH ONLINE correspondent was able to get a newsletter from the Counter-Financing of Terrorism Department of the NFIU on Tuesday, which provided details about the development.

It added, “The analysis profiled the leader of the group, his addresses and mobile numbers abroad, with other 53 other individuals associated with the dissident group. The report was forwarded to law enforcement for further investigation.”

The NFIU also disclosed that a betting platform simply known as “XC” reported a suspicious transaction involving a Nigerian customer who had been there for 24 years and lived in North-Central, Nigeria.

“This 24-year-old from Nigeria’s North-Central region received over N350,000 in his betting wallet, believed to be ransom money from a kidnapping,” the NFIU stated.

In a another instance, the financial intelligence unit discovered a terrorist trying to avoid detection; it observed that the person used credit cards to buy tickets to high-risk locations and made systematic cash withdrawals from various ATMs.

According to the NFIU, whenever the person went over his withdrawal limit, he would find other ways to get around.

“The terrorist then attempted suspicious transfers exceeding €1,000 to a local charity with potential links to terrorism. These transactions, along with others for luxury goods and escort services, raised red flags,” the newsletter stated

The National Foreign Terrorism Investigative Unit (NFIU) also called on law enforcement agencies to look into transactions involving people connected to known terrorists or financiers; unlawful tax collection or compelled donations in areas where terrorism is a concern; and Bureau de Change operators making transfers within suspected networks easier.

The unit also requests that security agencies focus on the following areas: numerous cash deposits in bank accounts; large deposits made to point-of-sale operators followed by cash withdrawals; money transfers from Nigeria to high-risk nations; recruiting people to open numerous bank accounts; and financial transfers to charities associated with terrorism.