Ojienda rejects anti-money laundering law on advocates
Good intentionsHowever lawyer DBM Mosota, who spoke to The Standard from the UK, differed with his colleague, arguing the proposal had good intentions. FRC Director General Saitoti Maika said Kenya risked being blacklisted as a non-compliant country if it fails to pass the law. He said in sub-Saharan Africa, only Kenya and Mozambique have not designated lawyers as reporting entities in their anti-money laundering laws. When the US Assistant Secretary for the Treasury Richard Billingslea, the outgoing president of Financial Action Task Force (FATF), visited Kenya last month, he raised concerns over Kenya's slow pace in amending its anti-money laundering laws to fully comply with FATF standards. The US secretary at the time held a meeting with Ministry of Foreign Affairs PS Kamau Macharia, Director National Counter-Terrorism Centre Martin Kinani, PS Treasury Kamau Thugge, Governor CBK Patrick Njoroge and Saitoti, on the illicit finance challenge. Saitoti, who is in the US attending the FATF annual general meeting, will hold discussions with Billingslea to appraise him on developments towards strengthening Kenya's anti-money laundering laws.
We are undertaking a survey to help us improve our content for you. This will only take 1 minute of your time, please give us your feedback by clicking HERE. All responses will be confidential.