Kenya’s Ministry of Finance seeks tougher anti money laundering legislation
According to local media reports on the 18th, the Kenyan government has begun to solicit public opinions on a proposed law. The law will closely scrutinize casino, land and luxury car deals to plug loopholes that criminals and corrupt groups use to launder money. “The Ministry of finance has completed the preparation of the regulations on the administration of proceeds of crime and anti money laundering (Criminal asset recovery Fund) in 2020. We invite interested members of the public to submit their opinions and ideas on the above provisions before 28 days,” said an external spokesman for the Ministry of finance of Kenya If passed, the bill will become the first national bill to combat money laundering in Kenya’s history. (head office reporter Tian Chaoying)
