Leaked information by a disgruntled employee of a Swiss bank on a number of secret numbered accounts operated by foreigners made news last week.
On the leaked list, over 700 accounts were linked to Kenyans. Arguably, these accounts belong to businessmen and civil servants who have been siphoning money out of Government accounts through unsanctioned deals.
Following this revelation, the Ethics and Anti-Corruption Commission (EACC) chairman, Mumo Matemu, has ordered the closure of all foreign accounts held by civil servants.
Understandably, these secret offshore banking schemes are denying the country some much-needed revenue to run services. A similar order by EACC's predecessor, Kenya Anti-Corruption Commission (KACC) in 2011 is yet to be adhered to.
Because of the confidentiality element in some foreign banks, individuals who have acquired their money illegally prefer offshore banking under the Numbered Accounts system of Switzerland.
It is almost impossible to attach a name to any account unless a Swiss judge has been convinced beyond reasonable doubt that the account holder is guilty of a felony that can be prosecuted under Swiss law.
The Swiss banking law of 1934 guarantees depositors' confidentiality while ensuring that neither the Swiss government nor any other foreign jurisdiction can access account information unless there is a substantial criminal allegation against the holder of the account.
Allegations of tax evasion are not enough to make a Swiss judge order a bank to reveal the identity of its client.
It will, therefore, be a tall order for the Ethics and Anti-Corruption Commission to make any headway in identifying people holding illegal accounts in Swiss banks.
The contention that it is illegal for civil servants to operate foreign bank accounts cannot penetrate the Swiss banking's veneer of confidentiality and establishing, let alone punishing, account holders remains a gargantuan task for Mr Matemu.
To stem the vice, EACC must start by ensuring there is zero corruption in Government institutions and block avenues through which individuals gain access to public money.
Most importantly, Government tendering must be streamlined to weed out briefcase companies and the so-called "tenderpreneurs".
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