Kenya’s National Treasury has formed a task force on Anti-Money Laundering, Countering Financing of Terrorism and the Financing of Proliferation of Weapons of Mass Destruction.
Its secretariat will be the Financial Reporting Centre.
The National Treasury will chair the task force, whose members include the Attorney-General, the Office of the Director of Public Prosecutions, and the State Departments for Internal Security, Foreign Affairs and Immigration.
Other members include the Directorate of Criminal Investigations, Ethics and Anti-Corruption Commission, Assets Recovery Agency, National Intelligence Service, National Counter Terrorism Centre, Kenya Revenue Authority, Central Bank of Kenya, Capital Markets Authority and Insurance Regulatory Authority.
“The task force shall review existing policies, strategies, and legislation and make appropriate recommendations to the Cabinet Secretary for the National Treasury and Economic Planning on combating money laundering, the financing of terrorism, and proliferation financing,” said Treasury Cabinet Secretary Njuguna Ndung’u in a Friday gazette notice.
The Proceeds of Crime and Anti-Money Laundering Act No. 9 of 2009 is the primary legislation governing anti-money laundering in Kenya.
The Act establishes the Financial Reporting Centre (FRC) as the central agency for receiving, analyzing and disseminating financial information to competent authorities for investigation and prosecution of money laundering offences.
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