Kenyan has been listed among top global hotspots for drug trafficking, money laundering among other economic and organised crime.
In a 2019 International Narcotics Control Strategy Report released by the US Department of State, Kenya has been listed as a transit point for regional and international drug traffickers as well as trade based money laundering (TBML) activities.
“Kenya’s proximity to Somalia makes it an attractive location for laundering piracy-related proceeds, and a black market exists for smuggled and grey market goods,” stated the report.
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Kenyans are aware of the high corruption rate in the country. It’s like the country wakes up to a different story every day that involves taxpayers money vanishing in the thin air.
The report says Kenya’s proximity to Somalia makes it an attractive location for laundering piracy-related proceeds and that the stolen money has been stashed abroad.
“Financial institutions engage in currency transactions connected to international narcotics trafficking involving significant amounts of U.S. currency derived from illegal sales in Kenya, other East Africa countries, the United States, and elsewhere,” the reported stated.
The report prepared annually by the US Department of State has been presented to the US Congress.