What is the meaning of SCUML?

Special Control Unit against Money Laundering
Special Control Unit against Money Laundering (SCUML) and Economic Financial Crimes Commission (EFCC) are the regulatory authorities for the implementation of the AML/CFT regime in respect to the DNFI sector in Nigeria.

How do I get a SCUML certificate?

SCUML registration can be done online and all the applicant has to do is to logon to the SCUML website click, and complete the online registration form. The applicant must attach the required documents depending on the type of institution. Professional certificate where applicable.

Is SCUML certificate compulsory?

What category of businesses need the SCUML certificate? Organizations designated as Non Financial Institutions are required to obtain the certificate in order to open a bank account.

How much does it cost to get SCUML certificate?

Registration can be done on the SCUML website at NO COST. What is a suspicious transaction? (c) Gives rise to suspicion that it may involve financing of terrorism. STR has no threshold; it could be based on any amount.

What companies need SCUML?

Which type of business requires a SCUML certificate?

  • business outfits dealing in jewellery;
  • car dealers;
  • dealers in luxury goods;
  • chartered accountants;
  • audit firms;
  • tax consultants;
  • clearing and settlement companies;
  • hotels;

Is SCUML part of EFCC?

SCUML Gets NEW Boss The new and current Director SCUML Daniel Isei joined the EFCC in 2004.

What is DNFI classification?

The Money Laundering (Prohibition) Act, 20111, defines a Designated Non-Financial Institution (DNFI) as dealers in Jewellery, Luxury Goods, Chartered Accountants, Audit Firms, Tax Consultants, Clearing And Settlement Companies, Legal Practitioners, Hotels, Casinos, Supermarkets, or such other businesses as the Federal …

WHO issues SCUML?

The Special Control Unit against Money Laundering (“SCUML”) of the Federal Ministry of Industry, Trade and Investment is empowered by the Federal Ministry of Industry, Trade and Investment (Designation of Non-Financial Institutions and Other Related Matters) Regulations 2013, to register and monitor the activities of …

When did SCUML start in Nigeria?

2005
The establishment of SCUML in 2005 was as a commitment by Nigeria, through the Federal Government constituted Presidential Inter-Agency Committee, to the Financial Action Task Force (FATF).

What are the obligations of Dnfbps?

DNFBP Guide to Registration and Overview of Responsibilities & Obligation

  • buying and selling of real estate;
  • managing of client money, securities or other assets;
  • management of bank, savings or securities accounts;
  • organization of contributions for the creation, operation or management of companies; or.

How do you process a SCUML?

The process for obtaining a SCUML certificate is easy, simply log into SCUML websitewww.scuml.org, click on the tab “Register Online” and fill the registration form and attach the required documents. The documents to be attached for business name include; Certificate of incorporation.

Are casinos Dnfbp?

Which businesses are classified as DNFBPs? The following businesses and professions are subject to DNFBP FATF recommendations: Auditors, external accountants, and tax advisors. Casinos and other gambling service providers.

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