This follows the recommendation by the Directorate of Criminal Investigations (DCI) that the institutions and various bank officials be charged with undertaking shady transactions/FILE
This follows the recommendation by the Directorate of Criminal Investigations (DCI) that the institutions and various bank officials be charged with undertaking shady transactions.
Through a statement, Haji said that a team of prosecutors to review the findings of the investigation by the DCI.
“Central Bank of Kenya undertook targeted inspection of the five banks, which resulted in penalties and strict supervision regime to mitigate and address the identified gaps and other measures,” he stated.
“I have constituted a team of special prosecutors to independently review the respective files and make recommendations within 14 days.”
He stated that he will be targeting Kenya Commercial Bank (KCB), Standard Chartered Bank, Equity Bank, Diamond Trust Bank and the Cooperative Bank of Kenya.
He will also focus on individuals and entities who concealed, facilitated, aided, abetted and benefitted from the loot.
Standard Charted had the highest amount of looted NYS funds moved, at Sh1.628 billion.
Of that, Sh558.58 million was transacted by bank officials who did not alert the Financial Reporting Centre (FRC) of the huge amounts moved as required by law.
Haji stated that Sh886 million was moved through Equity, out of which transactions of Sh271 million were not reported to the FRC.
Another Sh800 million was moved through KCB. The lender’s officials approved transactions of Sh148 million without following anti-money laundering laws, which require reporting of large transactions to the FRC.
Cooperative Bank allegedly aided the movement of Sh250 million, and failed to report transactions of Sh25 million to the FRC.
DTB allegedly failed to report the movement of Sh27 million out of the Sh164 million that passed through its systems.
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