Nairobi, Aug. 17 -- NCBA Bank has faulted the decision by Director of Public Prosecutions Renson Ingonga to prosecute its chief executive officer (CEO) John Gachora for allegedly failing to report suspicious transactions linked to the Sh363.3 million fraud at First Assurance Investment Ltd.

Mr Gachora and the bank argue that the charges are based on a flawed interpretation of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) and its regulations.

The bank says the DPP has failed to identify any provision of the law that creates personal criminal responsibility for a CEO over alleged regulatory failures by a bank.

It argues that the prosecution is effectively seeking to impose criminal liability on Mr Gachora merely because h...