"EFCC chief Ola Olukoyede says corrupt politicians are now concealing stolen funds in cryptocurrency wallets."

 "EFCC chief Ola Olukoyede says corrupt politicians are now concealing stolen funds in cryptocurrency wallets."

The EFCC chairman, Ola Olukoyede, warns of a rising trend: criminals, especially corrupt politicians, are increasingly using cryptocurrencies to launder money and evade detection.  

He highlights virtual asset fraud and dubious investment schemes as significant threats, potentially surpassing traditional money laundering in Africa.  While cryptocurrencies aren't inherently illegal, their rapid growth provides new avenues for concealing illicit funds.  

The EFCC is actively combating this, citing successes like the CBEX scam investigation.  Olukoyede emphasizes the importance of investor due diligence, noting that many victims of investment scams could have avoided losses with proper checks.  

He stresses that negligence on the part of investors contributes to the success of these schemes, urging caution and reporting suspicious activity to the EFCC.