The Financial Intelligence Authority should Investigate Edith Kasekende.

The Financial Intelligence Authority should Investigate Edith Kasekende.

By Kagenyi Lukka

The Financial Intelligence Authority is a Government Agency that was established Under the Anti-Money Laundering Act, 2013. According to Information available on the website of the Financial Intelligence Authority (FIA), it can impose certain duties on institutions and other persons, businesses and professions, who might be used for money laundering purposes, make orders in relation to proceeds of crime and properties of offenders.

It can provide for international cooperation in investigations, prosecution and other legal processes of prohibiting and preventing money laundering, and designate money laundering as an extraditable offence; and to provide for other related matters.

Money laundering is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.

This background brings me to my submission today. Edith Kasekende will not be the first person to be investigated by FIA.A few months ago, FIA was petitioned to investigate Justine Bagyenda, the embattled former BoU Executive Director for commercial banks supervision on the possibility of money laundering following the leaking of her numerous bank account statements which depicted suspicious transactions up to the tune of billions of shillings of money.

Similarly, Edith Kasekende’s financial transactions are worth being investigated FIA.

According to Edith Kasekende’s statement of account for account number 0100111660500 from 1st May 2017 to 17th May 2018, branch code 00002, Speke road, She made several transactions of huge sums of money which should provoke the FIA to intervene.

For Instance, on 12th  May 2017,Edith made a deposit of Ugx 120,000,000 and later on withdrew Ugx 92,700,000 on 22/5/2017.On 3rd  /6/2017, A certain John deposited Uganda shillings 190,000,000 on her account.

The activity proceeded unhampered with Edith withdrawing Ugx 52,000,000 over the counter on 18th July 2017, while China Railway Seven CRSG credited her account through EFT credit Ugx 321,600,000 bringing her balance to Ugx 539,811,320 as at 19th July 2017.

On 21st July 2017, a one Namagembe deposited Ugx 73,000,000 while another person named Bazongere deposited Ugx 23,550,000 on 26th July 2017 while Edith Kasekende withdrew Ugx 31,500,000 on 7th August 2017.

The suspicious activity went on with China Railway Seven CRSG making an EFT credit transfer of 534,350,000 which extrapolated her balance to Ugx 872,201,320.She made a withdrawal of Ugx 652,000,000 on 7th September 2017.

Furthermore, Edith Kasekende made a deposit of Ugx 124,000,000 and Ugx 421,120,000 was deposited to her account through EFT credit.

In addition, Edith Kasekende deposited Ugx 393,000,000 while another, Masembe Arnold deposited Ugx 120,000,000.

The above transactions and more should raise eyebrows of any concerned citizen, and where citizens aren’t able to rise, mandated institutions should swing into action.

By investigating Edith, FIA will also depict itself as not sparing the big fish and those that are connected to the big fish. It will also give credibility, boost public trust and confidence in an institution like the Financial Intelligence Authority.

The dampening of public trust in institutions has been publically acknowledged by people including the President who castigated the inspectorate and of late, the Uganda tourism board.

My final appeal goes to the FIA ED, Sydney Asubo and its board chairman Louis Kibirango, act on Edith Kasekende.

Lukka.kagenyi@gmail.com

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