Financial Crime World

Corruption Bill: Govt to Recover Losses

In a significant move aimed at combating corruption, the government has introduced a new bill that seeks to recover losses caused by corrupt activities.

Prevention and Combating of Corruption Act 2007

The Prevention and Combating of Corruption Act 2007 provides for the recovery of money or other assets obtained through corrupt means. The bill makes it an offence for public officials to solicit or accept advantages as inducements to give assistance or influence in the promotion, execution, or procurement of contracts with public bodies.

  • Any public official who solicits or accepts an advantage commits an offence.
  • Similarly, any person who offers or gives an advantage to induce a public official to act in their favor also commits an offence.

The bill further prohibits anyone from offering or accepting advantages as inducements for procuring or refraining from bidding at auctions conducted by or on behalf of public or private bodies. The maximum penalty for such offences is imprisonment for up to seven years and/or a fine not exceeding 15 million shillings.

Recovery of Losses

The court may order the offender to pay back the advantage received or confiscated to the government if they are found to be an agent or acting on behalf of an agent. The bill also provides for the recovery of losses caused by corrupt activities, including the confiscation of assets obtained through corruption.

Impact and Expectations

The introduction of this bill is seen as a major step in the fight against corruption, which has been a significant challenge facing the country. Corruption has been linked to various social and economic problems, including poor service delivery, embezzlement of public funds, and lack of trust in institutions.

The government has urged all stakeholders to support the bill and work together to combat corruption. The bill is expected to be debated and passed into law soon.

Conclusion

In conclusion, the introduction of this bill is a significant step towards combating corruption and recovering losses caused by corrupt activities. It is essential for all stakeholders to come together and support the bill to ensure its success in addressing the challenges posed by corruption.