2018-03-23

Banking Circular No. 2 of 2018 - Guidance Note on Money Laundering Risk Assessment

The Central Bank of Kenya (CBK) has issued a guidance note on conducting money laundering and terrorism financing risk assessments. These measures aim to strengthen the financial sector's defense against ML/TF threats, particularly in commercial banks and mortgage finance companies. Institutions are required to undertake individual risk assessments, following CBK's Prudential Guideline on Anti-Money Laundering and Combating the Financing of Terrorism (CBK/PG/08). The guidance note outlines clear parameters to assist institutions in this process. The results of these assessments will inform resource allocation and AML/CFT policies. For further enquiries, contact the Director Bank Supervision Department at the Central Bank of Kenya.

Kenya

Central Bank of Kenya

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