KENYA: TYCOON SUES BANKING FRAUD UNIT FOR BLOCKING HIS ACCESS TO FINANCIAL SERVICES

The Standard Online on 27th June reported that James Kinyanjui is accusing the Banking Fraud Investigation Department of illegally issuing a directive to banks to stop dealing with him, thereby denying him opportunity to trade and meet business obligations.  This is not his first such dispute.  In 2015, the Banking Fraud Investigations Unit sought to freeze his accounts on the basis of allegations of money laundering and stashing money in foreign accounts.  However, he challenged the decision to freeze his accounts and in 2016 the High Court stopped police or DPP from freezing his accounts.
https://www.standardmedia.co.ke/business/article/2001285638/tycoon-sues-banking-fraud-unit-over-blacklist?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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