It is good to see prosecutors finally moving to seek a resolution to the Chase Bank case after nine people were charged with stealing Sh1.5 billion from the lender last week.
While the bank’s customers will welcome the step taken by the Central Bank of Kenya’s Banking Fraud Investigations Department, we must point out that there are still many other unresolved cases involving fallen banks.
Customers who lost their money in the debacle are still awaiting answers and are yet to see action taken against the bank managers and owners of the collapsed institutions.
We must guard against sweeping past frauds under the carpet as this only encourages a culture of impunity.
The only way such crimes at local financial institutions can become a thing of the past is by ensuring that those found culpable are punished. The process would only be deemed to be successful if those who lost money during the fraud are reunited with their funds,
It must not be forgotten that failure to find a quick resolution to such matters only prolongs the suffering of the victims.
Meting out stiff punishment will also ensure that financial probity is entrenched in our institutions.
That is the only way the banks can restore confidence in their institutions.
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