By
Dennis Musau
Technology Correspondent
Nation Media Group
US-based digital payments company Hurupay has stopped processing cross-border money transfers and cryptocurrencies in the Kenyan market amid increased anti-money-laundering checks.
Kenya remains on the list of countries at high risk of money laundering and terrorist financing, with the Financial Action Task Force (FATF) placing the country on its "grey list."
By
Dennis Musau
Technology Correspondent
Nation Media Group
US-based digital payments company Hurupay has stopped processing cross-border money transfers and cryptocurrencies in the Kenyan market amid increased anti-money-laundering checks.

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The crackdown follows Kenya's placement on the Financial Action Task Force grey list in February 2024 due to deficiencies in its…

The American firm told the affected users that the remaining balances may be held for up to 180 days before being cleared for…

The American firm told the affected users that the remaining balances may be held for up to 180 days before being cleared for…

In Kenya, cash transactions of $15,000 (Sh1.9 million) or more must be reported to the Financial Reporting Centre (FRC).…

Kenya was placed on the FATF grey list on February 23, 2024, after the global watchdog flagged weaknesses in the country’s…