How Kenya Shut Down Nigerian Start-Up Flutterwave
Nigeria has been notorious for money laundering schemes and card frauds in other countries. The Assets Recovery Agency (ARA) has recently confiscated billions of shillings from companies and individuals under the guise of investors and agents.
The latest and biggest reveal and seizure was a Nigerian start-up, Flutterwave, where ARA confiscated Sh.6.2 billion from 62 bank accounts. In a court filing, ARA reports the money was transferred in the disguise of settlement for goods and services.
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