Treasury invites public participation on Criminal Assets Recovery Fund proposal

The government has invited public participation on a proposed bill that will help determine what happens to assets and money recovered from convicted criminals and corrupt officials.

In a public notice by the National Treasury and Planning ministry, Kenyans have been invited to submit their proposals in line with the proposed Proceeds of Crime and Anti-money Laundering Regulations, 2019.

Treasury suggests that assets such as cars and houses which may depreciate in value should be auctioned and the money raised routed into a Criminal Assets Recovery Fund.

Treasury PS Julius Muia. Treasury invites public participation on Criminal Assets Recovery Fund proposal Pulse Live Kenya

Recovered corruption money to be put in one account

According to Treasury PS Julius Muia, money channeled to the fund will afterwards be channeled to government bonds or to 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.

"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," Dr Muia explained.

Kenyans willing to participate in the process have been asked to submit their suggestions through P.O. Box 30007-00100 in a letter addressed to the Treasury PS, or in a letter hand delivered to the National Treasury Building and through the email ps@treasury.co.ke.