MANDATE
The Central Bank of Kenya is responsible for supervising and enforcing the compliance with the Proceeds of Crime and Anti-Money Laundering Act, 2009 and attendant Regulations of financial institutions under its purview:
Commercial Banks
• Mortgage Finance Companies
• Microfinance Banks
• Money Remittance Providers
• Foreign Exchange Bureaus
• Digital Credit Providers
• Payments Service Providers
• Mortgage Refinance Companies
In exercising this mandate, CBK seeks to ensure that Kenya’s financial system and the broader economy is protected from the threats of money laundering and the financing of terrorism and proliferation. This contributes to strengthening of financial sector integrity and enhancement of safety and security of the country.
LEGISLATION
Kenya is committed to full implementation of international standards on tackling money laundering, terrorism and proliferation financing as set by the Financial Action Task Force (FATF)[1].
Kenya’s primary legislative framework enacted to combat money laundering and countering the terrorism and proliferation financing (AML/CFT/CPF) consists of the:
• Proceeds of Crime and Anti Money Laundering Act, 2009 (POCAMLA)
• Proceeds of Crime and Anti Money Laundering Regulations, 2013
• Prevention of Terrorism Act, 2012 (POTA)
• Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations, 2013
Pursuant to section 33(4) of the Banking Act, Central Bank of Kenya has also issued a Guideline on Anti-Money Laundering and Combating the Financing of Terrorism.
[1] The Financial Action Task Force (FATF) is the global money laundering, terrorism and proliferation financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society.
UPDATES
1267 List (Al-Qaida Sanctions List)
This list is maintained by the 1267 Committee, a committee established by the United Nations Security Council Resolution 1267. This list contains information on individuals and groups involved with Al-Qaeda. This list is available on the United Nation’s website in 3 formats; PDF, XML and HTML (click to see list).
Financial Action Task Force (FATF) High-Risk Jurisdictions subject to a Call for Action
High-risk jurisdictions have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation. For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and, in the most serious cases, countries are called upon to apply countermeasures to protect the international financial system from the money laundering, terrorist financing, and proliferation financing (ML/TF/PF) risks emanating from the country.
REPORTS
