EMAAR Ponzi scheme collapse affecting Moniepoint and Kuda Bank customers
EMAAR issued Ponzi scheme enforcement/collapse affecting Moniepoint Microfinance Bank, Kuda Bank, Economic and Financial Crimes Commission on October 1, 2025.
- Primary
- EMAAR
- Counterparty
- Moniepoint Microfinance Bank, Kuda Bank, Economic and Financial Crimes Commission
- Structure
- Ponzi scheme enforcement/collapse
- Date
- October 1, 2025
- Sub-sector
- Wealthtech
Regulatory enforcement action exposing weak controls at fintech platforms enabling fraudulent investment schemes, raising questions about KYC/AML compliance and account monitoring.
Source: punchng.com