CBK tightens the noose on money launderers

What you need to know:

  • Banks told to raise compliance efforts under fresh guidelines
  • CBK orders financial institutions to implement its recently outlined policy measures against money laundering and terrorist financing.
  • New CBK guidelines require banks to tighten the scrutiny on politicians, foreign entities and personalities, supermarket owners, car dealers among others

The Central Bank of Kenya (CBK) is piling pressure and personal liability against bankers who breach anti-money laundering laws, raising the spectre of bankers going to jail.

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