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How State agencies will share seized dirty cash
IFC is set to offer advisory services to Kenyan banks in a $1.5 million deal (Sh219 million) to help the lenders in climate risk mitigation. PHOTO | SHUTTERSTOCK
Two enforcement agencies will be among the beneficiaries of dirty cash seized by the State, which means that forfeited monies will no longer be held in a KCB account by the Asset and Recovery Agency (ARA).
This is after a High Court judge in September directed the National Treasury to fast-track regulations to operationalise the Criminal Recovery Fund to administer proceeds of crime including cash and properties.
