Guidance Note on Conducting Money Laundering/ Terrorism Financing Risk Assessment

The Central Bank of Kenya has issued a Guidance Note on conducting money laundering (ML) and terrorism financing (TF) risk assessment by banking institutions. The Guidance Note clarifies the regulatory requirements under Kenya’s Anti-Money Laundering and Combating Financing of Terrorism legislation on the process of undertaking ML/FT risk assessment. It further provides guidance on the factors that banking institutions should consider when assessing their ML/TF risk exposure. Read more…