Banks to appoint money laundering officer in new CBK rules
2 months ago, 3 Jan 00:18
Central Bank of Kenya (CBK) has directed all banks to conduct a risk assessment exercise to determine their preparedness in fighting money laundering and terrorism. Through a guidance note, the regulator said all banks will be required to develop a money laundering and terrorism financing (ML/TF) risk assessment framework. In addition, each bank will now be required to appoint a money laundering reporting officer who will be the central point of contact with the CBK. By December 31 every year, b ...
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