Barclays bank is a premier financial institution not only in Kenya but also the world. The recent debacle surrounding the Barclays Bank, Queensway Branch in the heart of Nairobi CBD has left men feeling some type of way.
Majority of Kenyans took to social media sites to express their joy that the Kenya Police Service for once was doing their job.
New details have emerged that the police might have stepped on the toes of an international syndicate cons people into purchasing fake currency as the investigations into the Kshs 2billion come to a second day.
These details came to light after the police discovered along with a huge sum of money. The gold belongs to one Eric Adede who is the main suspect in this matter.
Amidst all the pressure from the public and other financial institutions, Barclays Bank has remained tight lipped on this matter unlike Tuesday where they made a statement.
George Kinoti helped ease the tension after he asked the public and the media to give the bank a few days to prepare an official statement.
“Be patient, this thing is very big. Give us time. We’ll update you with the information in due time,” the DCI said.
Suspects
Questionably safe deposit boxes in banks are usually about 12 inches square, but the box displayed by the DCI as having been found with the fake dollars was about a metre square.
How the syndicate managed to store the fake currency and gold within the premises of a bank of international repute is still an unanswered question.
Police are suspecting more employees from the Queensway branch of Barclays, and they could be closing in on them in the next few days.
The discovery of the fake money and gold has further raised questions about Kenya’s banking system and the audacity of criminal rings that now seem to have infiltrated the financial system.
Fake currency and gold syndicates usually dupe buyers to deposit money for the gold or cash, but never deliver.
Safety Boxes
Police believe the suspects in custody had decided to store their fake gold and cash in a bank in order to evade detection.
Most banks provide the boxes that are typically located in a highly secure and private part of the bank for customers to lease at a fee.
The boxes that can be operated by up to two people, including an authorised agent, can only be accessed during normal working hours.
Those intending to open one need to submit their national IDs and passports for verification. On Tuesday night, Barclays insisted that it was not within their mandate to know what its customers store in their safe deposit boxes.
“The customer had concealed fake currency in his personal safe deposit box against the bank’s rules and regulations, which include restrictions of items, which can be held in the safe deposit box,” the bank said.
“Barclays Bank, in the usual course of business, offers safe deposit boxes. The contents of personal safe are only known to the client. We continue to fully assist the authorities with this investigation,” the bank said.
Confidentiality
The Kenya Bankers Association (KBA), an umbrella body for all lenders, has also sided with Barclays.
“Ordinarily, banks do not ask to know the contents. And by the way a number of entities can provide the service including hotels. Customers just prefer banks because they are deemed to be safe,” Mr Habil Olaka, the chief executive of KBA.
In custody are Mr Erick Adede, who police think is the owner of the safe deposit box and money, Mr Ahmed Shah, Ms Elizabeth Muthoni and Ms Irene Wairimu Kimani.
Bank’s staff, Mr Boaz Ochich and Mr Charles Manzi, are also in custody.