President William Ruto has officially signed into law a new Bill aimed at strengthening Kenya’s efforts to fight money laundering and financial crimes.
The law comes as part of Kenya’s commitment to international standards on financial transparency and crime prevention. It introduces stricter rules to ensure that financial intelligence is not only collected but also used effectively to detect and stop illegal money movements.
The signing of the Bill follows pressure from the Financial Action Task Group (FATG), which had tasked Kenya with stepping up its oversight on financial flows, especially within non-governmental and not-for-profit organizations. These groups are now under closer watch to confirm that they are carrying out legitimate activities and are not being misused to transfer proceeds of crime.
Under the new law, financial institutions, NGOs, and not-for-profit organizations will be required to be more transparent about their transactions. Regulatory bodies will also have more authority to inspect their activities and ensure compliance with the law.
One of the key concerns addressed by this legislation is the misuse of charitable and nonprofit groups as cover for laundering money obtained through illegal activities. The new measures aim to prevent such organizations from being used to move suspicious funds under the disguise of aid or charity work.
Kenya’s commitment to strengthening its financial systems aligns with global expectations for countries to actively monitor, report, and respond to money laundering threats. The new law is expected to help Kenya meet international compliance standards and avoid potential sanctions or restrictions from global financial bodies.
This legal development marks an important step in tightening controls over financial operations in the country. It will also boost Kenya’s image in the global financial sector as a country taking serious action against illicit financial practices.
By signing the Bill into law, President Ruto has reaffirmed his administration’s pledge to fight corruption, financial fraud, and the illegal flow of money across borders. The implementation of this law will now require cooperation from both government institutions and private organizations involved in financial activities.
News
Museveni Urges Parish-Level Audits to Track PDM Impact
President Yoweri Museveni has directed local leaders in Greater Mpigi to carry out parish-by-parish audits of how the Parish Development Model (PDM) is impacting households and helping them join the money economy.
Police Arrest 22-Year-Old Terror Suspect Near Nairobi Mosque
Police in Nairobi have arrested a 22-year-old man suspected of terrorism after his suspicious behavior caught the attention of officers near a mosque in the city.
Controversial Preacher Gilbert Deya Dies in Kisumu Road Crash
Controversial preacher Bishop Gilbert Deya died on the evening of Tuesday, June 17, in a tragic road accident along the Kisumu–Bondo highway.
Malaysia Backs Iran’s Retaliation as Markets React to Tensions
Malaysia has advised its citizens to avoid non-essential travel to Iran, Iraq, and Jordan due to growing tensions between Iran and Israel and rising security concerns in the region.
Homeland Security Secretary Kristi Noem Hospitalized After Allergic Reaction
Homeland Security Secretary Kristi Noem was taken to the hospital on Tuesday after experiencing an allergic reaction, according to the Department of Homeland Security (DHS).
Police Officer Arrested After Shooting Nairobi Mask Vendor
A police officer who allegedly shot a face mask vendor in Nairobi has been arrested, according to a statement released by the National Police Service (NPS).
26 Kidnappers Arrested in Kogi as Security Forces Intensify Crackdown
Security operatives in Kogi State have arrested 26 suspected kidnappers during a joint operation targeting criminal hideouts in Kogi West.
Court Halts Isiolo Governor Impeachment Over Public Participation
A planned public participation exercise meant to discuss the proposed removal of Isiolo Governor Abdi Guyo has been called off after the court issued a conservatory order halting the process.
Harvard Wins Extension of Court Order Against Trump Student Ban
Harvard University has successfully secured an extension of a court order that blocks former President Donald Trump’s ban on international students.
Fitch Warns Israel-Iran Conflict May Threaten Regional Stability
The ongoing military conflict between Israel and Iran has raised security and geopolitical risks across the Middle East, Fitch Ratings warned on June 17.
Fresh Protests in Nairobi Over Death of Teacher in Police Cell
Protests broke out in Nairobi on Tuesday as outrage grows over the death of 31-year-old teacher Albert Ojwang, who died while in police custody after his arrest in Homa Bay County.
Russian Strikes Kill 14 in Kyiv as Ukraine Faces Deadliest Attack
At least 14 people were killed and dozens injured during a brutal overnight attack on Kyiv, Ukraine's capital city.
Officer Claims DIG Lagat Ordered Assault on Blogger Albert Ojwang
A police officer has come forward with disturbing details about the death of teacher and blogger Albert Ojwang in custody.
Judge Blocks Trump’s Control of National Guard in LA Protests
A federal judge has ruled that President Donald Trump acted illegally by deploying the National Guard to Los Angeles without California’s approval, sparking a fierce legal and political battle.
Why South Korea Needs Long-Term Nuclear Research Partners
South Korea has made impressive progress in nuclear energy, expanding from building large reactors to exploring advanced technologies like fusion and small modular reactors (SMRs).