Kenya finds $71 mln in suspect cash as it retires old notes -cenbank

A Kenyan anti-corruption drive uncovered the equivalent of tens of millions of dollars in unexplained wealth when it retired old…

A Kenyan anti-corruption drive uncovered the equivalent of tens of millions of dollars in unexplained wealth when it retired old banknotes, the central bank said on Wednesday, adding much of the cash appeared to have been gained in “the criminal area”. The East African nation has a diverse, fast-growing economy, but foreign investors have long complained of widespread graft and weak application of anti-money laundering laws.

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