{"id":435783,"date":"2011-06-03T14:14:28","date_gmt":"2011-06-03T14:14:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/03\/kenya-dirty-money-stashed-in-foreign-accounts\/"},"modified":"2011-06-03T14:14:28","modified_gmt":"2011-06-03T14:14:28","slug":"kenya-dirty-money-stashed-in-foreign-accounts","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/03\/kenya-dirty-money-stashed-in-foreign-accounts\/","title":{"rendered":"Kenya: Dirty Money Stashed in Foreign Accounts"},"content":{"rendered":"<div readability=\"82.3631984586\">\n<hr class=\"thin clear\" \/>\n<hr class=\"thin clear\" \/>\n<p><a href=\"http:\/\/www.nation.co.ke\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/allafrica.com\/img\/static\/publishers\/minibanners\/nation180.jpg\" alt=\"The Nation (Nairobi)\" title=\"Visit The Nation (Nairobi)\" \/><\/a><\/p>\n<p>Benjamin Muindi<\/p>\n<p>3 June 2011<\/p>\n<hr class=\"thin clear\" \/>\n<p>Nairobi \u2014 More than KSh700 billion proceeds of crime, drugs and money laundering has been stashed in foreign accounts by Kenyans, Transparency International said on Friday.<\/p>\n<p>The anti-graft body therefore wants the government to operationalise the Proceeds of Crime and Money Laundering Act.<\/p>\n<p>Addressing a media conference on Friday, TI-Kenya executive director Samuel Kimeu said emerging incidents of corruption, human and drug trafficking provide a case for the speedy implementation of the Act.<\/p>\n<p>Others are piracy and terrorism activities.<\/p>\n<p>&#8220;To date, the requisite structures aimed at facilitating the identification, tracing, freezing, seizure, confiscation and repatriation of such proceeds are yet to be established,&#8221; he said.<\/p>\n<p><strong>Pro-active<\/strong><\/p>\n<p>Mr Kimeu noted that foreign governments as the United States and United Kingdom had shown a pro-active role towards this end than Kenya.<\/p>\n<p>&#8220;This shows that the government does not have the capacity or the willingness to pursue the matter,&#8221; he said, noting that politically and economically powerful individuals had acted as stumbling blocks.<\/p>\n<p>He pointed out the cases of Nambale MP Chris Okemo and former Kenya Power and Lighting Company managing director Samuel Gichuru as cases in point.<\/p>\n<p>The UK has already issued warrants of arrests for the now so-called Jersey duo because of money laundering cases in that country.<\/p>\n<p>And on Thursday, the US slapped economic sanctions against two Kenyans, among them Kilome MP John Harun Mwau, over drug trafficking.<\/p>\n<p>&#8220;It is therefore worrying that the government is dragging its feet in putting to effect a law that will boost the war against corruption, drug and human trafficking and piracy.&#8221;<\/p>\n<p>He added: &#8220;The continued delay in the implementation of the law permits corrupt individuals, drug traffickers, among others, to benefit from these illegal activities.&#8221;<\/p>\n<p><strong>Structures<\/strong><\/p>\n<p>TI asked the Ministry of Finance to expedite the setting up of the structures that will lead to the operationalisation of the Act.<\/p>\n<p>The law provides for the setting up of a Financial Reporting Centre that will assist Kenya in the identification of the proceeds of such crimes.<\/p>\n<p>So far, only Central Bank of Kenya has tasked one of its department to pursue some provisions of the legislation.<\/p>\n<p>&#8220;For Kenya to fully combat these crimes, the institutions and processes provided for must be established,&#8221; Mr Kimeu said.<\/p>\n<p>&#8220;Finance ministry must swiftly devise and unveil a coordinated action plan to facilitate the implementation of this law.<\/p>\n<p><strong>Integration<\/strong><\/p>\n<p>Meanwhile, East Africa Community deputy secretary general Beatrice Kiraso, cautioned that the regional integration efforts will be seriously undermined if crimes like drugs and human-trafficking, terrorism and piracy are not addressed appropriately and timely.<\/p>\n<p>She said collective approach was required among partner states to tackle these crimes which have been on the increase lately.<\/p>\n<p>The EAC official said such crime deter investors and even harm the very safety of the citizens themselves and their related developmental activities.<\/p>\n<p>&#8220;These crimes need to be addressed urgently or else our desire of making East Africa an attractive investment destination will only remain a pipe-dream,&#8221; she said when addressing the opening session of a two-day meeting of the Heads of Criminal Investigations and Registrars of Motor Vehicles in Kampala, Uganda.<\/p>\n<p><\/p>\n<fieldset>\n<legend align=\"center\"><strong>More News on allAfrica.com<\/strong><\/legend>\n<\/fieldset>\n<p>AllAfrica &#8211; All the Time<\/p>\n<hr \/>\n<\/div>\n<\/p>\n<p>More here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/allafrica.com\/stories\/201106031217.html\" title=\"Kenya: Dirty Money Stashed in Foreign Accounts\" rel=\"noopener noreferrer\">Kenya: Dirty Money Stashed in Foreign Accounts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Benjamin Muindi 3 June 2011 Nairobi \u2014 More than KSh700 billion proceeds of crime, drugs and money laundering has been stashed in foreign accounts by Kenyans, Transparency International said on Friday. The anti-graft body therefore wants the government to operationalise the Proceeds of Crime and Money Laundering Act. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-435783","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kenya: Dirty Money Stashed in Foreign Accounts - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/03\/kenya-dirty-money-stashed-in-foreign-accounts\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Kenya: Dirty Money Stashed in Foreign Accounts - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Benjamin Muindi 3 June 2011 Nairobi \u2014 More than KSh700 billion proceeds of crime, drugs and money laundering has been stashed in foreign accounts by Kenyans, Transparency International said on Friday. 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