Money Laundering | Oluniyi D. Ajao

Problems with credit/debit cards issued in Nigeria

Friday, March 21, 2008

On the 15th of October 2004, Ecobank Nigeria Plc made history when it launched the first ever internationally accepted credit card in Nigeria – the Ecobank MasterCard. With the launch of the Ecobank MasterCard, Ecobank availed Nigerians the benefits and privileges of a convenient international payment card for online and offline financial transactions. The challenges [...]

ATM Cards Being Used for Money Laundering

Friday, January 13, 2006

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In most African countries, credit/debit cards are not commonplace. Thus, the few enlightened ones who need to use one of the global payment networks widely accepted on the Internet (promonently MasterCard and Visa) need to do so via third parties. Though some of these 'cards' are virtual, some are physical and can be used to withdraw funds at any of the Visa or MasterCard branded ATMs, worldwide. Read on...