Kenya has received significant recognition for its efforts to combat money laundering and terrorist financing with an invitation to attend the Financial Action Task Force (FATF) plenary meeting in Paris.
This invitation marks a crucial step towards Kenya’s removal from the FATF’s “grey list,” which identifies jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorist financing regimes.
The Ministry of Foreign Affairs and Diaspora Affairs announced the invitation on Tuesday, acknowledging Kenya’s progress in implementing the FATF Recommendations. These recommendations encompass a range of measures, including enhancing financial transparency, strengthening international cooperation, and improving the monitoring of suspicious transactions.
This invitation to the FATF plenary meeting in Paris is a significant milestone for Kenya. It not only underscores the country’s commitment to combating financial crime but also reaffirms its status as a major financial hub in sub-Saharan Africa.
A Kenyan delegation, led by Mr. Saitoti ole Maika, Director General of the Financial Reporting Centre, and including Mr. Renson Ingonga, Director of Public Prosecutions, and senior officials from the Kenya Revenue Authority (KRA) and the National Counterterrorism Centre (NCTC), will attend the meeting.
The FATF, an intergovernmental body, plays a crucial role in developing and promoting international standards for combating money laundering and terrorist financing.
AC/Sf/fss/abj/APA