Crypto growth is a much greater danger to the global economy-Economics Bitcoin News
Crypto growth is a much greater danger to the global economy-Economics Bitcoin News
The chairman of the Nigerian Economic and Financial Crimes Commission (EFCC), Abdulrashed Bawa, has described the growth of cryptocurrencies as something that is now "a much greater danger to the global economy". In order to deal with such dangers or threats, BAWA therefore advocates a "collective and collaborative approach of the authorities around the world".
economic crime harms the global financial system
according to a test report by vanguard These comments when he spoke on a symposium that was organized by the Center for International Documentation of Organized Crime and Economic Crime (CIDOEC). In the meantime, BAWA will be organized at the same meeting to discuss the costs of economic crime and who should pay this bill to explain why countries have to work together. He said:
BAWA also warned that industrial countries, like their less developed counterparts, are not immune to a scourge that was still tightened by "the spread of cybercrime that threatened the stability of global financial institutions". In order to make this point clear, BAWA uses the example of how criminals now decide to "make or maintain illegal funds". [Search as ransom money] for cyber attacks in cryptocurrencies. ”
victim of economic crime may not bear the costs
In the meantime, the EFCC chairman also dealt with the question of who should bear the costs of economic crime. The report quotes BAWA, which explains his point of view on this topic. He said:
"Since the victims of crimes are still suffering from the effects of financial crime worldwide, either directly or indirectly as part of a social system, the provision of who pays or should pay becomes a critical benchmark of the existing criminal law."
Nevertheless, the EFCC chairman insists that "the perpetrators and not the victims" have to pay for the crimes.
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