CBA, Co-op Bank and National Bank roped into KRA tax scam

Commercial Bank of Africa, Cooperative Bank and National Bank have also been sucked into the tax evasion ring feared to have cost the country billions of shillings in lost taxes.

This is after the Kenya Revenue Authority (KRA) hurriedly took several employees of the banks alongside those of Equity Bank to charge them for their role in the scam. KRA busted the tax evasion ring late last year but a series of cover ups have slowed down investigations into the scandal that insiders say could ran into transactions of over Sh.68 billion over the last three years.