Kenya’s anti-money laundering authority, Assets Recovery Agency (ARA), has lost a second attempt to freeze $274,369 from an affiliate of a Burundian engineering firm suspected to be proceeds of crime.
The Court of Appeal in Nairobi upheld the dismissal of ARA’s bid to forfeit money held by EIS Afrika Group Ltd at I&M Bank, finding that the agency failed to establish a link between the funds and criminal conduct.
