The United States has listed Kenya among the global money laundering hotspots.
In a report, the US Department of State Bureau for International Narcotics and Law Enforcement Affairs blames the state of money laundering in Kenya to a lack of controls on terrorism financing.
“Kenya remains vulnerable to money laundering and financial fraud. It is the financial hub of East Africa, its banking and financial sector in sophistication, and it is at the forefront of mobile banking,” reads part of the report.
The US government agency further says that money laundering in Kenya is high in both the formal and informal sectors.
The report indicates money laundering in the country is done through criminal activities such as transnational organized crime, cybercrime, and corruption.
It is also orchestrated through smuggling, trade invoice manipulation, illicit drugs trade and counterfeit goods, trade in illegal timber and charcoal, and wildlife trafficking.
This year alone, authorities have seized billions of shillings in counterfeit currency believed to have been a conduit of money laundering.
Two weeks ago, detectives impounded Sh2.6 billion fake currency in a safe deposit at Barclays Bank, Queensway Branch in Nairobi.
In February, officers from the Special Crimes Prevention Unit seized Sh32.6 billion fake notes in a private residence in Ruiru town.
Countries listed as money laundering hotspots are subjected to strict scrutiny from global financial players while investors conduct additional checks on payments involving entities from listed countries.
Not surprising as corruption…
Not surprising as corruption and betting are the only two growth industries under the failed jubilee economy.
First step in what could…
First step in what could spiral to become a nightmare for those sending money to this shithole….This is what you get when you put boys at the top
Jamama and Mlachake, I wish…
Jamama and Mlachake, I wish you would subject United States, I assume you live in the states, to the same vitriol you directed towards Kenya. What exactly is lobbying and why is it such a lucrative industry? Look at what is happening to the people closest to the current president of United States. Estimates are that $2.1 trillion is held outside United States and corporations make sure that they are not punished for it by lobbying(bribing) heavily to keep the status quo. Social security and Medicare are both underfunded and so are many Federal and State Pension programs. In the 1980s, Alan Greenspan sounded a huge alarm on the potential implosion of social security – this is 30+ years later and the situation is worse. It will take a massive tax hike and/or huge lowering of benefits to maintain some sort of benefit payment…We lie to ourselves that we are financially safe here – SHIT WILL HIT THE fan!
The failed jubilee economy…
The failed jubilee economy and Kenya the country are different entities. The economy is failing Kenya. I love Kenya and will never criticize it.
The latest country I’ve been…
The latest country I’ve been is Botswana. I have nothing to do with US
If the roots are corrupted…
If the roots are corrupted what do you expect the tree structure to be?
We’re aware of the Kenyan circle on this all, there will sparingly net just few small fish then there will be great silence followed by election campaign – SOS!
I hate people who hide in…
I hate people who hide in the diaspora kazi ni kutoa matusi tu na kuenjoy welfare.
In the west, we lie to…
In the west, we lie to ourselves on how well we are doing. The 2008 financial meltdown exposed the weak foundation that the US economy is built on. I saw many many Kenyans lose their homes. We live a life where losing a job is enough to send your entire life into a tailspin. We need to rethink the comfort we think we have here. I live in Northern California where the homeless population has increased a hundredfold in the last few years. Word has it that many Kenyans are homeless here as well. That place some are calling a shithole is where many of us will end up when an illness, disability or age renders you useless to this economy.
@Nani, very true. We really…
@Nani, very true. We really lie to ourselves how great we are doing in diaspora. I almost lost my house during the Great Recession of 2008 after loosing my job but the bank modified my loan and I was able to hang on it. It can take one misfortune and you can find yourself in the country you are calling shithole with or without makaratasi.
And who said it’s any…
And who said it’s any different in Kenya? A medical condition will eat all your ‘riches’ overnight…. Sena Tu in Kenya you can go to live in ushago w/o paying rent…but same shit for misfortunes…
So are you in San Francisco …
So are you in San Francisco , the shithole city with half of population on Opiods and homelessness and on the other side overlooking the new building (Sales force tower) you have million dollar homes – Pacific heights etc
@Formerly, in the viscinity…
@Formerly, in the viscinity. A long time homeless Kenyan resident, handicapped by alcoholism, lived in this area for years and wouldn’t travel home until his mom died. When he went home, relatives convinced him to stay in Kenya. He runs a kiosk these days and lives a much more dignified life in Kabete. He had nothing to show for a 35+ years life in the states.
@nani@kenyamoja where have u…
@nani@kenyamoja where have u been guys when am bin roasted by yr diaspora sycophants.Thankyou for telling the truth which i have bin telling this diaspora ancestors who think the country they live at is clean like snow not knowing it’s where the corruption n all sorts of immorality is made at???Can this country first return all the cash which has bin hidden by our politicians who have stollen.Sell of their properties which have bought with stollen money public money???Look at switzerland the country which survives economically with money laundering,corruption stollen trillions which r banked in there by who or who in this world n cannot b returned.So this usa bureau need to do it homework without picking up only in kenya??So i support them but can they comment about other western countries starting with theirs
Yours is outright bias…as…
Yours is outright bias…as if hundred of thousands of Kenyans haven’t changed their lives drastically by having stepped in the USA…you included. Yours is malice, jealousy and a compe-kinda commentary that is neither informative nor encouraging.. it’s meant to demean, demoralize and belittle diasporan Kenyans. Quit it!
Jamama na Mlachake, hatuwezi…
Jamama na Mlachake, hatuwezi linganisha Marekani na Jamhuri hata. Ni kweli wizi wa kikarne, ulanguzi wa aina yote, utapeli na ubepali wa aina yote, uporaji wa, sio tu mkoba wa mwananchi, lakini pia wizi unaowahusisha “Wanjiku” kutoka kule mashinani. Marekani, kwa upande mwingine, ina kitita cha shida chungu. Kwa mfano tu, katika miaka ya 60 na 70, idadi ya wafanyakazi waliowakimu wale waliostaafu, walikuwa chungu nzima. Katika miaka hio, waliostaafu waliweza kupata kitita cha pesa za kutosha kuwalisha na kuwaweka wawe na raha mstarehe. Miaka ya 80, 90 hadi 2000, kitita hicho kilipungua na kupunguzwa kwa idadi kubwa. Kuporomoka kwa uchumi wa Marekani baada ya vita vya Iraq na Kuwait, kitita cha waliostaafu kilichimba chini kwa mapua kiasi kwamba, waliostaafu walijipata wakiponkea marupurupu yao kwa kiwango cha chini kabisa. Ni katika miaka hio ya 2003 hadi 2008 tulipowaona wakongwe wakitafuta pesa za ziada kutoka duka za kibiashara kama vile Walmart, JCPenny, Sears, Kmart, Macy’s na kadharika. Kisa na maana? Kama unatarajia kupata chochote kutoma akaiba ya watakao staafu katika miaka mingine ijayo, anza kutafutambinu zinginezo za kukupa mapato utakapostaafu. Wakenya nao wanashida zao ambazo zinatishiwa zaidi na wizi wa mali ya umma. Katika upande wowote ule, niwasihi nyote mjipange kwa sababu serikali za siku hizi hazipati mapato ya kukutosha kutoka kwa serikali yoyote ile.
Balanced commentary and well…
Balanced commentary and well spoken but my swahili does not allow ne to reply in swahili.
Kabisa @mjuaji ulivyonena ni…
Kabisa @mjuaji ulivyonena ni ukweli gabisa.Its funny the way the diasporas waits 65/70 years to retire ndio wapokee btw 1000-2000$ max n this cash is not guaranteed juu serikali huenda chini kiuchumi.Ex if ur 40 years why work yr ass off for 30 years waiting for 1300$ monthly when u can invest hapa kenya for 10 years mpaka 50 years n u can return relax n work for yourself n u will b earning more than 2000$ yenye ungeslave yourself for the next 20 years??Build 30 units within 10 years.Rent them minimum 15k hio ni 450,000k monthly n u either return u or remain hio majuu yako with money freedom.My take.Many of the kenyans move to diaspora for money(99-%) unless we lie to ourselves???So ukipata hio 450k why stay there but many will lie insecurity insecurity n yet hawana chochote chakuimbiwa hapa nyumbani???
We need a serious chat…. I…
We need a serious chat…. I think we that read without judgment have found you to be encouraging us wakenya to think beyond our imagination… I believe that we need to be told but it pains to listen… We can’t listen without pain becauses we are on paystab to paystab .. I have been listening. I cut back on the intsy bitsy.. Bought coffee cup instead of Starbucks, pack lunch instead of Nandos, do potluck for the party to keep going… Enjoy some wine and me time in a budgeted way. Keep my credit card usage at minimal and only use my inner faculty when spending (if I don’t have money to purchase item ABC then I don’t need it… Kid lets recycle for movie..and savings are in a different bank brunch… My friends I have been listening.. Note even if u don’t want to retire jamhuri… You want to have some pocket change…
The best way to do savings… Ingelesha job yako
Is this about US and Kenya…
Is this about US and Kenya as countries and their economies or its about Kenyans in US and Kenyans in Kenya?
This rationalizing every time evil in Kenya is brought to light by comparing US and Kenya is trivializing the true state of affairs in our country. Criticizing the evil in society does not make one less patriotic. Equally, burying our heads in the sand does not make us more patriotic. Let the facts and truth liberate us. Haki iwe ngao na mlinzi!
One2ManyDayz, personally, I…
One2ManyDayz, personally, I don’t justify the corruption and system failure in Kenya. What I have noticed about Kenyans around me is that those who criticize the loudest do very little to make a difference in Kenya. I have been conned, frustrated by the system and even thrown in a Kenyan jail for 45 minutes at the JKIA for refusing to bribe a traffic cop. However, I don’t give up on Kenya because I don’t have another home. I actively do things in Kenya to make a difference in my own way. There are people who paid a huge price to make this country what it is…improving Kenya is our collective responsibility as well.
I agree no giving up on…
I agree no giving up on Kenya. On the same token criticism is tough love even as Kenya remains our home. A measure of one’s contribution to make difference in Kenya is as varied as we are and remains a very amorphous matter. Majority of those who paid or pay a price for this country are the very downtrodden and disadvantaged; hence there is need to call out these inequities. Evil thrive when good men/women do nothing leave alone raise a finger. And in my tongue they say “..na ngoma iturikaga niguthinjirwo..”
Nowadays where ever you…
Nowadays where ever you dwell live is not easy, so giving credit where it deserve is worth-while and so is the opposite. The thing is in My beloved country Kenya almost 8 out of 10 are discouraging news in particular to corruptions which gives anxiety to anyone.
Just a reminder, the money laundering was and is usually a coordination of some policemen, judges, lawyers and government officials. This type of lawlessness deals has taken Kenya to be well known corrupted nation world-wide just because of the fake ongoing war on corruption. Thus we should all come strong and condemn in any manner to pass out the message to the UhuRuto Administration.
Hence those short memory Whispers should acknowledge that Diaspora voice matters.
Huh I like it when we…
Huh I like it when we pretend this does not happen to other countries outside Kenya . Italy and Greece comes to mind as most corrupt “developed” world . We need to stop thinking in a silo that it is only Kenya or USA that exist. Any country is a shit hole give or take depending, citizenry of most countries in this world suffer same predicaments if laid off , disabled, recession. The govt can also support its citizenry to a certain % , hiyo ingine its on you including not falling for fleecing lenders ( make finance literacy paramount in your life!). Us in Diaspora we should and must criticize and expect better from our governments, it is even more in gusto because we all love it, – it is called tough love.
This is what I am talking…
This is what I am talking about. Not a single person responsible for 2007-2008 crisis is in jail let alone prosecuted. The 10 year statute of limitation has ended so they are now free to enjoy their ill gotten loot in relative peace. Additionally, they use that loot to manipulate the system through campaign contributions. This allows them to continue parking their loot in the Cayman Islands, Bermuda, Bahamas, Mauritius, Channel Islands, Switzerland etc. Yes, Kenya is very very corrupt place…we just call it something different around here and we are unknowingly paying for it.
When you get time on…
When you get time on weekends, watch American Greed( I think it is on CNBC), utajionea , the last one I watched was a dude who fleeced his own family millions, one was a doctor, he lied to them about investments in some Mutual Funds etc and yeah they all had saved for retirement , so goes to show no one can be immune hata daktari. The dude used their money to buy latest wheels, gacungwa on the side etc. The only money they were able to liquidate was gacungwa Jewelry, handbags – not even close to the millions. Another episode was rehab center somewhere in FL fleecing govt $$. The Chinese are most corrupt here- they are dirty! Those chinese stores and buffet places are not just that …………..So siyo Kenya, US happens to be a large mass so such things do not crop up as much as they do in a small city like Nairobi.