Antitrust Law Daily Wrap Up, CONSUMER PROTECTION NEWS: FTC and Nigerian agencies sign cross-border fraud agreement, (Aug 28, 2013)

The FTC signed a memorandum of understanding (MOU) with Nigeria’s Consumer Protection Council and Nigeria’s Economic and Financial Crimes Commission (EFCC) to increase cooperation and communication in their joint efforts to stamp out cross-border fraud, it has been announced. It is the first FTC MOU of this kind to include a foreign criminal enforcement authority.

"Cross-border scammers use fraudulent e-mails and other scams to bilk consumers all over the world, while undermining confidence in legitimate businesses,” said FTC Chairwoman Edith Ramirez.

Nigeria's EFCC Executive Chairman Ibrahim Lamorde noted that he “welcomes this partnership, which builds on our existing collaboration with the FTC and with U.S. criminal enforcement authorities.”

The MOU provides for a Joint Implementation Committee to identify concrete areas of collaboration, establish joint training programs and workshops, and provide assistance regarding specific cases and investigations. The MOU is a framework for voluntary cooperation and will not change existing laws in either country.

The FTC has already worked with the two Nigerian agencies on policy and enforcement matters in various forums, including the African Consumer Protection Dialogue, the International Mass Marketing Fraud Working Group, the London Action Plan (LAP, an anti-spam network), and the International Consumer Protection and Enforcement Network.

News: ConsumerProtection FederalTradeCommissionNews