The EFCC Act (2004) attempts to capture the variety of economic and financial crimes found either within or
outside the organization. The salient issues in EFCC Act (2004) definition include “violent, criminal and illicit
activities committed with the objective of earning wealth illegally… in a manner that violates existing
legislation… and these include any form of fraud, narcotic drug, trafficking, money laundering, embezzlement,
bribery, looting and any form of corrupt malpractices and child labour, illegal oil bunkering and illegal mining,
tax evasion, foreign exchange malpractice including counterfeiting, currency, theft of intellectual property and
piracy, open market abuse, dumping of toxic waste and prohibited goods, etc. This definition is all-embracing and
conceivably includes financial crimes in corporate organization and those discussed by provision authors
(William, 2005 and Khan, 2005). At the level of corporate organizations, financial crimes were known to have led
to the collapse of such organizations.