Kenya fails to shake off EU money laundering grey list as Uganda is delisted
Kenya was placed on the grey list on February 23, with the FATF noting that the country’s existing anti-money laundering and combating of financing of terrorism laws were still not up to international standards. PHOTO | SHUTTERSTOCK
Kenya has been added to the list of high-risk jurisdictions for money laundering by the European Union, as Uganda got reprieve by being struck off the list.
The EU released the updated list on Tuesday, as the Financial Reporting Centre (FRC), Kenya’s Financial Intelligence Unit, raised the red flag on a number of suspicious transactions linked to money laundering.
