The Money Laundering Risks and Vulnerabilities Associated with MMM Nigeria

Journal of Money Laundering Control, Vol. 21 Issue: 1, pp.112-119

43 Pages Posted: 23 Jan 2017 Last revised: 21 Jan 2018

See all articles by Ehi Esoimeme

Ehi Esoimeme

University of Wales System - Cardiff Law School

Date Written: January 18, 2017

Abstract

Purpose – This paper aims to help build awareness with the regulatory, enforcement and customs authorities as well as reporting entities about money laundering risks and vulnerabilities of the MMM Scheme, and how to mitigate them.

Design/Methodology/Approach – This paper relies mainly on primary and secondary data drawn from the public domain. It also relies on documentary research.

Findings – This paper determined that the MMM Scheme could be used by criminals to launder proceeds of crime.

Originality/Value – While most publications on MMM are focused on fraud, this paper focuses on the money laundering risks and vulnerabilities associated with the MMM scheme.

Keywords: MMM Nigeria, Ponzi Schemes, Money Laundering, Bitcoin, Goldmoney

Suggested Citation

Esoimeme, Ehi, The Money Laundering Risks and Vulnerabilities Associated with MMM Nigeria (January 18, 2017). Journal of Money Laundering Control, Vol. 21 Issue: 1, pp.112-119, Available at SSRN: https://ssrn.com/abstract=2901635 or http://dx.doi.org/10.2139/ssrn.2901635

Ehi Esoimeme (Contact Author)

University of Wales System - Cardiff Law School ( email )

PO Box 427
Cardiff, Wales CF10 3AX
United Kingdom

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