Crypto growth a danger to global economy – EFCC Chairman

TL;DR Breakdown Nigeria’s anti-graft agency says crypto growth poses a danger to the world.EFCC calls for collaborative effort to stop crypto crimes.Nigerian crypto scammers prefer Bitcoin, Ethereum. The chairman of the Economic and Financial Crimes Commission (EFCC) Nigeria’s anti-graft agency, Abdulrasheed Bawa, has lamented how crypto growth has been a problem for the African nation. According to the Anti-graft boss, crypto growth poses a far greater danger to the world economy and not only the Nigerian economy. Towards putting a stop to the threat crypto brings, Bawa says that there is a need for a collective and collaborative approach by authorities worldwide. Why countries must collaborate to curb scams amidst crypto growth – Bawa The EFCC chairman explained that there has to be a collaborative effort to end crypto crimes. He notes that the crimes affect the vital structures of global economies, causing significant damage to the global financial system and depriving developing nations of the needed resources for sustainable development. He made the remark recently at a symposium organized by the Centre for International Documentation on Organized and Economic Crime (CIDOEC). The meeting was to discuss the cost of economic crimes and who should foot this bill. Bawa also warned that developed countries are not immune from a scourge that has been magnified by “the proliferation of cyber-crimes which he says threatens...