2019-03-19

Banking Circular No. 2 of 2019 - Independent Review of AML-CFT Compliance Program

The Central Bank of Kenya (CBK) has issued a directive requiring commercial banks, microfinance banks, and mortgage finance companies to undertake an independent review of their anti-money laundering and combating the financing of terrorism (AML/CFT) compliance programs. Institutions are required to submit profiles of nominees for CBK approval and have these reviews independently submitted by May 31, 2019. The terms of reference for the independent review include evaluating customer due diligence measures, assessing internal controls and governance structures, and testing reporting processes with the Financial Reporting Centre.

Kenya

Central Bank of Kenya

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