SCUML warns public against transacting with SC Group for alleged non-compliance with regulations
The federal agency for anti-money laundering and combating financial terrorism, the Special Control Unit against Money Laundering (SCUML) has cautioned members of the public about transacting with SC Group, a designated non-financial business, for its non-compliance with existing government laws and regulations.
The alert was made following the enforcement activities in which the SCUML agents stormed the company office in Wuye, Abuja, for alleged violations of money laundering regulations and refusal to pay the prescribed penalties.
The company was alleged to have consistently failed to file statutory reports to SCUML and emplace approved Anti Money Laundering, Combating the Financing of Terrorism and Combating Proliferation Financing, AML/CFT/CPF, policies.
In the course of the enforcement, Officers of SCUML pasted a notice of non-compliance to AML/CFT/CPF on the building. The notice which warns members of the public to be cautious in carrying out business transactions with the company, will be in place until the company is in full compliance with extant laws.
