In line with its mandate to ensure that the scourge of
money laundering is curbed in the nation, the Special Control Unit against
Money Laundering, SCUML, on Monday, March 24, 2025 pasted a notice of
non-compliance with Anti Money Laundering/ Combating the Financing of Terrorism
AML/CFT requirements on Huge Dream Properties Limited.
Huge Dream Properties Limited, a real estate firm with
projects in various locations within the Federal Capital Territory, FCT,
was initially visited on October 9, 2023 and it was discovered that
it was not compliant to the AML/CFT requirements as enshrined in the Money
Laundering (Prevention and Prohibition) Act, 2022, MLPPA, 2022.
A further visit to the entity on March 12, 2025
revealed that the company still contravened the provisions of MLPPA 2022
therefore making it vulnerable to money laundering activities.
Owing to this, officers of SCUML visited the premises
of the affected business and pasted a notice of non-compliance to AML/CFT
policies and procedures on the company.
The notice will remain pasted till the company meets
full compliance with the relevant laws. The notice also advises members
of the public to tread with caution in carrying out business transactions with
the company.
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