If the proposals in the bill are approved, the authorities will have unfettered access to private communications of suspects in efforts to tame money laundering and financing of terrorism.
“Where a person is suspected or accused of an offence under this Act, the privacy of a person’s communications may be investigated or otherwise interfered with,” the bill states, according to a document by parliament.
A statement released by The Presidency noted the bill introduces several measures to detect and prevent money laundering activities in Kenya, including reporting suspicious transactions.
“Reporting entities will get the mandate to report suspicious transactions and activities to the Financial Reporting Centre (FRC) promptly. The FRC will analyse the reports and share intelligence with relevant law enforcement agencies that will, in turn, initiate investigations and take appropriate actions against money laundering perpetrators,” it said.
Cabinet approves Anti-laundering bill In July
State House spokesperson Hussein Mohammed said the move was a major step by the country in enhancing its financial integrity by introducing several measures. The Bill seeks to review all existing anti-money laundering and anti-terrorism financing laws. He said the government knew of the risk money laundering posed to Kenya’s financial integrity.
Source: TUKO
