2023-11-08 | 639899199

Payments Circular No. 13 of 2023 CDD EDD and Record Keeping

The Central Bank of Kenya (CBK) issues a reminder to Payment Service Providers (PSPs) about their anti-money laundering (AML), countering the financing of terrorism (CFT), and countering the financing of proliferation (CPF) obligations. The CBK highlights the importance of customer due diligence (CDD), enhanced due diligence (EDD), and record-keeping, emphasizing the need to identify and verify the identities of beneficial owners. PSPs are advised to maintain complete and accurate records, understand the amended AML/CFT/CPF laws, and apply them accordingly to mitigate risks.

Kenya

Central Bank of Kenya

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