Why Financial Crimes May Thrive At Agent Locations?

    Financial Crimes

    Our financial system needs to make agent locations difficult for financial crimes.

    We must enforce the players to stop certain practices that aid & albeit crimes. Notable practices from major players;

    1) THE BANKS : The banks tend to ignore attempted crimes in an attempt to protect their customers. Examples: A fraudulent customer who used pos at a store or agent location, got value and still approached a bank to claim dispense error. That is attempted fraud which the bank should track down & arrest but they just decline & let criminal go & try some other times .

    A wrong bank transfer : Several banks ignore even a court order served on them and still services the customer who cashed out such funds .

    2) Police : Most agents may not report criminals because police always need mobilization to carry out investigations & make arrests ( fraudster call line expansion /tracking , fueling , team motivation etc ) . Such budget usually too big for agent to fund .

    So, criminals are left to enjoy.

    3) Reporting channel : Agent locations could have being a good intelligence sharing points but no activated channel either from agent principals or law enforcement agents .

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    4) Judicial system : Our courts can drag a clear fraud case for years . In fact , the plaintiff will even be calling for discontinuation due to frustration of adjournment ( either judge wife is sick or it’s time for court annual break ) And more Our financial system indeed requires protection especially at the agent level.