Intimidation/Fear? Ama ilikuwa tu siasa?

[Othello]

The Fintech company Flutterwave has been linked to money laundering which has led ARA to freeze billions sent from Nigeria.

Court freezes 56 bank accounts with Sh7bn

Frozen accounts are in USD, British Pound Sterling, EURO and Kenya shillings.

www.the-star.co.ke

And not just in Kenya but even beyond. After all, who doesn't know the meaning of Nigeria is fraud?
This Nigerian journalist had this to say few days ago

Then even before the guy is sworn in, the cases have already been dropped.



So was there a case in the first place, or intimidation/fear has already cropped?

 

[Denis Young]

Is it possible there is some level of money laundering, yes. Were some laws broken, yes.

However, that is the nature of fintech. Usually tech moves faster than legislation and as a result, they always operate in the gray. Combo with monetary policy and yoou have an interesting legal situation.

If you asked me though, this crack down had more to do with FX outflows and competition.

 

[stanmwa]

We are a shit hole country indeed

 

[pop in]

We are a shit hole country indeed

They are crawling out of the woodwork one by one

 

[wrongturn]

this crack down had more to do with FX outflows and competition

Not really, cbk regulations tu unless laws are amended to " accommodate the forex" , banks will continue flagging high movement volumes of cash.