The United Kingdom has set the stage for major freezing of assets and travel bans on corruption suspect under a new law that could affect some Kenyans. It will prevent those responsible from entering the UK or laundering their ill-gotten assets here,” Raab notes. We are determined to make it painfully unrewarding and expensive to get involved in corruption in Kenya,” Uhuru had said. The study titled 'Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts' compared data on aid disbursements from the World Bank with foreign deposits from the Bank for International Settlements (BIS), focusing on 22 aid-dependent countries. Jordan topped the ranking among the targeted countries with more than Sh350 billion stashed in offshore bank accounts followed by Kenya which had Sh136.2 billion in less regulated territories and Sh190.35 billion in regulated bank accounts.

Source: The Star May 01, 2021 05:37 UTC