The findings come as Kenya steps up efforts to exit the Financial Action Task Force (FATF) grey list, where it was placed over weaknesses in combating money laundering and terrorism financing.
By
John Waweru
Data Journalist
Nation Media Group
More than half of the firms flagged for higher exposure to money laundering risks are in the real estate and legal services sectors, putting these two sectors at the forefront of Kenya’s fight against illicit financial flows.
Kenya was grey-listed in February 2024 following a 2021 mutual evaluation by the Eastern and Southern Africa Anti-Money…
Kenya was placed on the FATF grey list on February 23, 2024, after the global watchdog flagged weaknesses in the country’s…
Kenya has been sharpening its tools to detect and block illicit money flows, with hope of being removed from the financial crimes…
Kenya remains on the list of countries at high risk of money laundering and terrorist financing, with the Financial Action Task…
In Kenya, cash transactions of $15,000 (Sh1.9 million) or more must be reported to the Financial Reporting Centre (FRC).…
The typologies report also flagged increasingly sophisticated tactics, including the use of shell companies and structuring…
