This archive report was first published on 12 September 2019.
On September 12, 2019, the National Treasury and Planning ministry issued a public notice inviting Kenyans to submit proposals on the proposed Proceeds of Crime and Anti-money Laundering Regulations, 2019 Bill.
The bill aims to determine the use of proceeds from financial crimes recovered from convicted criminals and corrupt officials.
According to the proposal, recovered assets such as cars and houses that depreciate in value should be auctioned, with the proceeds wired into a Criminal Assets Recovery Fund.
Treasury Principal Secretary Julius Muia stated that the funds should then be channeled to government bonds or the government's main account for use in infrastructure projects.
"Our intentions are very clear that proceeds from crimes and assets that are recovered should be applied for use in ways which will be for public advantage," Muia explained.
"It's our hope that once we get the views from the public then the legislature will not take long so that the Fund is operational within this financial year," he added.
Kenyans willing to participate in the process have been asked to submit their suggestions in a letter addressed to the Treasury PS through P.O. Box 30007-00100 or drop the letter at the National Treasury Building on Harambee Avenue in Nairobi and through the email.
