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UK to freeze assets, issue travel bans on corrupt in new law
by MARTIN MWITA
Image: COURTESY
•The Global Anti-Corruption Sanctions Regulations 2021 now likely to catch up with some wealthy Kenyans stashing millions abroad.
•As of November last year, wealthy Kenyans were reported to be hiding more than $4.2 billion (Sh452.9 billion) in offshore accounts.
The United Kingdom has set the stage for major freezing of assets and travel bans on corruption suspect under a new law that could affect some Kenyans.
The ‘Global Anti-Corruption Sanctions Regulations 2021’, under the powers of the Sanctions and Anti-Money Laundering Act 2018, gives the UK powers to prevent those involved in corruption from traveling to its territory or using its financial system. ....

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