Regulatory Alerts2016-03-16
Guidelines on the Prevention of Money Laundering and Terrorism Financing in the Capital Markets
These guidelines mandate that market intermediaries in Kenya implement robust risk-based anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks, including comprehensive customer due diligence (CDD) and ongoing transaction monitoring. Intermediaries are required to appoint a money laundering reporting officer, conduct staff training, maintain detailed records for at least seven years, and immediately report suspicious transactions to the Financial Reporting Centre. The document further specifies indicators for identifying potential illicit activity across customer segments, account types, and employee behavior to ensure full regulatory compliance.
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