2023-10-18

Central Bank of Kenya Circular No. 11 of 2023 - Dissemination of ML-TF-PF Sectoral Risk Assessment Report

The Central Bank of Kenya (CBK) has conducted a sectoral risk assessment to evaluate the potential risks of money laundering, terrorist financing, and proliferation financing in six different financial sectors. Each sector has been rated using a five-risk rating scale, from Low to High. The banking sector poses the highest risk due to its size, variety of products, diverse customer base, and high level of importance to the Kenyan economy. Digital credit providers pose the least risk. This assessment serves as a reference for financial institutions when undertaking their own institutional risk assessments and implementing Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) measures accordingly.

Kenya

Central Bank of Kenya

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