Kenya to amend law to tackle money laundering by banks
The Kenya government will revoke the licences of banks abetting money laundering. PHOTO | FILE
Kenya is to amend its anti-money laundering law to enable the government to revoke the licences of errant financial institutions.
The proposed amendments to the Proceeds of Crime and Anti-Money Laundering Act (2009) come a few months after President Uhuru Kenyatta ordered that tougher action be taken against individuals and institutions for money laundering.
