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Wednesday , February 26 2020

‘Around KD 48 mln recovered from suspects blamed in misappropriation of public funds’

KUWAIT CITY, Dec 9: President of the Public Funds Prosecution Dr Faisal Al-Mutairi disclosed that the sector has recovered over KD 48 million from the suspects of misappropriation, reports Al-Qabas daily.

Al-Mutairi declared that refunding the amount after allegations of misappropriation did not leave the perpetrators off the hook, and they neither evaded judicial punishments.

He said the positive reasons of the growing public funds misappropriation cases is the high rate of awareness on the sanctity of public funds in our society and the mandatory protection over it.

He stated the most notable negative reasons embedded in inadequacy of auditing systems as regards fair and transparent internal follow-up of all government agencies, which could be related to movable and immovable assets. He noted that public funds related crimes have increased to over 750 percent within the past 10 years.

He explained that only 24 cases were recorded in 2009, while it multiplied to 210 in 2018. He emphasized discussion on money laundering perpetrated by gang using proxy and hidden complicated accounts difficult for banks to handle.

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