Donation Amount. Min £2

 

NAIROBI, July 18 (Xinhua) -- The Kenyan government on Tuesday approved a draft bill on fighting against money laundering and the financing of terrorism by introducing tougher action against individuals guilty of economic crimes.

The bill allows the Financial Reporting Centre (FRC), a government institution, to impose sanctions for violations of the proceeds of crime. "If enacted by parliament, FRC, the anti-money laundering agency, will have the power to show the instances under which it might request for the revocation of a reporting institution's license," the presidency said in a statement issued in Nairobi, the capital of Kenya, after a cabinet meeting.

The bill is expected to impose stiff penalties on those found culpable in addition to identification, tracing, freezing, seizure and confiscation of the proceeds of crime.

Besides raising the cash transaction reporting threshold from 10,000 U.S. dollars to 15,000 dollars, the bill provides for the requirement for companies to keep a register of beneficial owners. - Xinhua

About IEA Media Ltd

Informer East Africa is a UK based diaspora Newspaper. It is a unique platform connecting East Africans at home and abroad through news dissemination. It is a forum to learn together, grow together and get entertained at the same time.

To advertise events or products, get in touch by info [at] informereastafrica [dot] com or call +447957636854.
If you have an issue or a story, get in touch with the editor through editor[at] informereastafrica [dot] com or call +447886544135.

We also accept donations from our supporters. Please click on "donate". Your donations will go along way in supporting the newspaper.

Get in touch

Our Offices

London, UK
+44 7886 544135
editor (@) informereastafrica.com
Slough, UK
+44 7957 636854
info (@) informereastafrica.com

Latest News

U.S. Forces conduct strike against ISIS-Somalia

U.S. Forces conduct...

At the request of the Federal Government of Somalia, U.S. Africa Command (AFRICOM) conducted a coll...

Renewed deadly RSF shelling strikes North Darfur camp

Renewed deadly RSF s...

Sudanese woman stands with her child who is being treated for malnutrition at a nutrition stabilisa...

TotalEnergies grows renewable capacity with new deals in Germany, Uganda, Canada

TotalEnergies grows...

BAKU, Azerbaijan, April 2. TotalEnergies has completed the acquisitions of VSB Group, a European win...

Church leads climate literacy campaign in schools and churches

Church leads climate...

Teachers and pastors undergoing a two day Ocean Climate Literacy session at a Malindi hotel in Kili...

For Advertisement

Big Reach

Informer East Africa is one platform for all people. It is a platform where you find so many professionals under one umbrella serving the African communities together.

Very Flexible

We exist to inform you, hear from you and connect you with what is happening around you. We do this professionally and timely as we endeavour to capture all that you should never miss. Informer East Africa is simply news for right now and the future.

Quality News

We only bring to you news that is verified, checked and follows strict journalistic guidelines and standards. We believe in 1. Objective coverage, 2. Impartiality and 3. Fair play.

Banner & Video Ads

A banner & video advertisement from our sponsors will show up every once in a while. It keeps us and our writers coffee replenished.