Korapay, a fintech firm based mostly in Nigeria, has been cleared of cash laundering and card fraud allegations in Kenya.
The fees towards the corporate which have been introduced up by Kenya’s Asset Restoration Company (ARA) in July have been dropped.
The ARA is the Kenyan company that identifies, traces, freezes, seizes, confiscates, and recovers proceeds of crime within the East African nation. The company filed a swimsuit that result in the freeze of Korapay’s accounts on 14th July 2022.
In keeping with a court docket doc, the ARA determined to drop the costs on nineteenth October, 2022.
Kenya’s Directorate of Felony Investigation (DCI) stated there’s at present no proof to show the fee firm responsible of cash laundering or card fraud.
