SASRA launches anonymous whistleblower drive to fight Sacco fraud
The Sacco Societies Regulatory Authority has launched a nationwide campaign urging members, staff and the public to report fraud anonymously. It promises confidentiality and protection from retaliation, Pulse Live Kenya reported.
The Sacco Societies Regulatory Authority (SASRA) has launched a nationwide whistleblower campaign. It urges Sacco members, employees and the general public to report suspected financial crimes and mismanagement anonymously, Pulse Live Kenya reported. The regulator says the goal is to protect the savings of millions of Kenyans. It wants to root out malpractice, embezzlement and governance failures across the regulated cooperative sector. SASRA listed the kinds of misconduct it wants reported. These include theft, diversion or unauthorised use of Sacco funds and assets. Falsified accounting books and financial reports are also on the list. So are bribery, demands for kickbacks and conflicts of interest. The regulator also named abuse of office, irregular procurement and unapproved asset sales. Breaches of member confidentiality and the destruction or alteration of records to hide wrongdoing complete the list. Informants do not need hard proof before they come forward. A report made in good faith and based on reasonable belief is enough to trigger an internal evaluation. "You do not have to prove the allegation before reporting. Report what you reasonably believe to be true," the regulator said. It added that early reports are vital to preventing heavy financial losses. Under…
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