EAST AFRICAN MONEY LAUNDERING BLAMED ON LACK OF LAW ENFORCEMENT
June 1st, 2018
EAST African countries maybe updating their anti-money laundering and combating the financing of terrorism (AML/CFT) legislation and strengthening related institutions, but experts warn that a lack of enforcement will aid the proliferation of ML and TF in the region.
In Kenya, a Proceeds of Crime and Anti-Money Laundering (Amendment) Bill was approved by the country’s parliament last March (2017). The law imposes stiffer penalties on criminals found laundering illicit crime proceeds and moving money to terrorists. Under its terms, individuals found guilty can ...
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