Archive for July, 2014

FATF removes Kenya from blacklist

Tuesday, July 8th, 2014

The Global Financial Action Task Force has removed Kenya from its monitoring process under the ongoing Anti-Money laundering and combating the Financing of Terrorism AML/CFT regime that has been under review since June 2009.

In a statement Treasury Cabinet Secretary Henry Rotich says that the Financial Action Task Force (FATF) team is satisfied with the way Kenya has substantially addressed its action plan on addressing money laundering, combating the financing of Terrorism and proliferation. Also, the team is satisfied with political commitment and institutional capacity to continue implementing the Task Force’s reforms in Kenya.

On the basis of an on-site visit the team, the global body established in 1989 to set international standards on money laundering and combating the financing of terrorism concluded that Kenya has established the legal and regulatory framework in order to address deficiencies identified in February 2010.