Tag: AML

Kenya in strategic push to exit the FATF Grey List

In February 2024, Kenya was placed on the Financial Action Task Force (FATF) grey list, signalling deficiencies in its anti-money laundering (AML), counter-terrorism financing (CFT), and counter-proliferation financing (CPF) frameworks. This designation, a setback for East Africa’s financial hub, has prompted urgent reforms to restore Kenya’s global financial reputation and mitigate economic risks like reduced […]...

Tracing every coin: FATF’s review of Recommendation 16 and the new rules of engagement for financial service providers

In the intricate and fast-paced world of global finance, where trillions move invisibly across borders daily, the challenge of keeping illicit money flows in check has grown exponentially. From narcot...

29 Jul 2022

Money laundering and terrorism financing: Kenya at medium risk as CBK publishes inaugural report

On Wednesday, July 27, 2022, the Central Bank of Kenya launched the Money Laundering and Terrorism Financing National Risk Assessment Report (NRA). The report identifies and assesses Kenya’s Money L...

10 Dec 2021

Another contest on the way in new anti-money laundering Bill

The balance between the protection of the right to privacy and enforcing anti-money laundering laws will once again come to the fore as Parliament works to seal loopholes in the current legal framewor...

15 Oct 2021

Regulating the legal tech space, Bills in the pipeline

Bridging the nexus between technology and the law has proven to be an increasingly tumultuous domain to regulate. However, this has not discouraged Kenyan legislators from attempting to regulate the...