Did you know that carrying out some money transactions can land you in problem? Well, let us refer to the most recent terror attack at the DusitD2 Hotel long 14 Riverside drive in Nairobi. Do you remember the transaction the terror suspect made with some financial institutions?
The Central Bank supervises banks through its supervision department while the Financial Reporting Centre is mandated to look into suspicious transactions following notification by the banks.
Law enforcement agencies are trying to unravel the money movement system to prevent similar transactions in the future.
Last week DPP Noordin Haji received a file from the DCI indicting five banks over their role in the Sh1 billion NYS scandal.
DCI George Kinoti has since revealed that investigators had recommended criminal charges be levelled against the chief executives of the five major banks, in addition to harsh penalties on the institutions in relation to the DusitD2 terror attack.
In a press statement, Haji said he had set up a team of senior prosecutors to independently review the files and make recommendations within 14 days.
Should the DPP approve the recommendation to press criminal charges, it could be the first time that top bank chiefs — who include heavyweights such as Equity Bank CEO James Mwangi and former Standard Chartered boss Lamin Manjang could find themselves in court.
Others are KCB chief Joshua Oigara, DTB Nasim Devji, and Cooperative Bank’s Gideon Muriuki.
Last week, Central Bank Governor Patrick Njoroge met Kinoti, Haji, a representative from Safaricom and bank representatives under the Kenya Bankers Association over the questionable transfers.
Yesterday, CBK spokesperson Wallace Kantai said he was not aware of any meeting about the subject.