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Banks to appoint money laundering officer in new CBK rules

Central Bank of Kenya Governor Patrick Njoroge (PHOTO: File)

NAIROBI, KENYA: Central Bank of Kenya (CBK) has directed all banks to conduct a risk assessment exercise to determine their preparedness in fighting money laundering and terrorism.

Through a guidance note, the regulator said all banks will be required to develop a money laundering and terrorism financing (ML/TF) risk assessment framework.

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