Bank regulations in the face of the NYS scandal [CGTN Interview]

Kenyan authorities will investigate 10 financial institutions suspected of handling funds that were stolen from the government’s National Youth Service. Dozens of senior officials and business people have been taken into custody and face charges related to the theft of nearly $100 M from the agency. The Daily Nation newspaper has named nine commercial banks and a financial co-op as the institutions the police and central bank investigators are focusing on. The list of lenders included Kenya’s biggest bank by assets, KCB Group, and Standard Chartered’s Kenyan unit.