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According to a new report by the Swiss National Bank (SNB) – Central Bank of Switzerland, Kenyans put 96 billion shillings (950 million Swiss francs) in Swiss banks last year .
in 1991.
Swiss National Bank (Courtesy)
These funds include deposits of Kenyans and fiduciary liabilities or funds held in Swiss banks. in trust on behalf of Kenyans.
Switzerland has long been considered one of the best tax havens.
It is suspected that Kenyans with illicit badets in Swiss banks may move their funds for fear of being exposed
Bank secrecy
However, in 2009, Switzerland was forced to leave the country. easing bank secrecy for foreigners while it was seeking to cooperate with a global crackdown on tax evaders.
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as a result of an agreement signed by Ke nya and Switzerland that paves the way for the recovery of funds and property obtained through proceeds of corruption and hidden at the same time. foreign. (Courtesy)
The report follows an agreement signed by Kenya and Switzerland that paves the way for the claim for funds and property obtained through proceeds of corruption and hidden abroad
]. The Pact for the Return of Assets Against Corruption and Crime in Kenya (FRACCK) was part of its resolution to eliminate corruption in the country.
The first property covered by the new framework will be the funds stolen by the Ango-Scandal Rental.
