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{
    "id": 1278851,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1278851/?format=api",
    "text_counter": 252,
    "type": "speech",
    "speaker_name": "Tigania West, UDA",
    "speaker_title": "Hon. (Dr) John K. Mutunga",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. Hon. Temporary Speaker, the reason why we are raising some of these issues is because Kenya needs to be protected. Who in Kenya do we need to focus on? We need to focus on real estate agents. In most cases, property in this country is bought in cash. I have witnessed a situation where properties have been bought in cash to the tune of millions of shillings. When you build a house, it does not necessarily mean that you took a loan from an institution. This does not necessarily account for where the money came from. If we invest money from unknown sources and then declare such resources as our wealth, how does this legislation take care of that declaration? How do we go back and ascertain where the money came from? We need to also engage the precious metal dealers who deal in gold, diamonds and other metals. They deal with a lot of cash. We also need to look at the accounting systems of legal professionals and accountants in this country. The law needs to clearly scrutinise how they manage their processes. Money is transferred through legal agencies. If there are no mechanisms of ascertaining that the money has been earned properly, legal agencies are engaged to craft agreements which are used to transfer big amounts of money. How does this law make sure that the legal agencies are also restricted in doing such business? If we have to secure Kenya, we need to do it properly. This law comes in to basically ensure that money laundering does not occur. I hope this proposed legislation provides for as much and even more. With those remarks, I support the Bill."
}