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ANTI CORRUPTION AND ECONOMIC CRIMES ACT, 2003

ANTI CORRUPTION AND ECONOMIC CRIMES ACT, 2003. BY K. A. ODHIAMBO. WHY THE ACT?. Was established to:- Prevent Investigate Punishment of corruption economic related cases. . What is corruption.

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ANTI CORRUPTION AND ECONOMIC CRIMES ACT, 2003

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  1. ANTI CORRUPTION AND ECONOMIC CRIMES ACT, 2003 BY K. A. ODHIAMBO

  2. WHY THE ACT? • Was established to:- • Prevent • Investigate • Punishment of corruption economic related cases.

  3. What is corruption • In simple terms it may be defined as ill gotten wealth. Any inducement that would influence some favours • Section 39 defines corruption as doing or not doing something in relation to the affairs or provisions of the agent’s principle. • Any receipt of expectation that would influence and agent to show favour

  4. What constitutes Corruption? • Bribery • Fraud • Embezzlement • Abuse of office • Breach of trust • Dishonesty • Tax evasion

  5. What is economic crime? • Any unlawful activity that would lead to loss of revenue may be regarded as an economic crime. • Section 45 of the Act, The following to constitute an economic crime:-

  6. What is economic crime? Cont… • Unlawful acquisition of Public Property • Damages to public property under an officers custody eg damaging graders. • Failure to pay taxes • Making excessive payment out of public revenue • Receipt of defective or substandard goods/ services

  7. What is economic crime? Cont… • Goods not supplies but cash paid • Goods not supplied in full • Services not rendered or not adequately rendered • Failure to comply withlawfull instructions or applicable procedures/guidelines relating to sales,disposal of assets,tendering,

  8. What is economic crime? Cont… • Engagement in projects without planning • Use of office for personal enrichment • Dealing with suspect goods corruptly acquired

  9. Why the Act and what it is doing 1. Created an authority to deal with corruption cases whose duties include:- • Investigation of matter dealing with Corruption • Advisory role on how to eliminate corruption • Evaluate work systems in the public Sector with a view to formulate anti corruption procedures to prevent corruption before it happens

  10. What has the Act Done • Education and awareness campaigns • Investigate the extent of loss/damages to public property and institute civil proceedings • Recovery of stolen property

  11. Penalty and compensation 2. Section 48. The Act has spelt out Sanctions as follows:- Fine not exceeding 5 Million 10 years imprisonment.

  12. Compensation • Two times the amount loss • Two times the benefit and two times the amount lost • Section 40 a person who receives a benefit the receipt of which constitute an offence is liable for the value to make payment for the benefit to the number of persons who lost and benefited

  13. End of Presentation

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