The Central Bank of Kenya issued a press release highlighting the Afro-Asia FinTech Festival Nairobi Online City, which was part of the 2020 Singapore FinTech Festival taking place Dec. 7-11, 2020.
The Basel Institute on Governance announced that Kenya’s Ethics and Anti-Corruption Commission recovered assets tied to corrupt and illegal activity worth a total of KES $9.3 billion, or roughly USD $84 million in the past year, and KES $29.8 billion, approximately USD $271 million, in five years.
Cryptocurrency exchange bans users in FATF gray-listed countries, encrypted messaging platform laundered funds through Panama and Luxembourg, and more, in the midweek roundup
Prevezon Holdings suspected of handling larger volume of illicit funds, Crown Resorts loses license, and more, in the midweek roundup.
The Central Bank of Kenya issued an enforcement action against Absa Bank Kenya PLC for failing to apply certain anti-money laundering compliance control standards on foreign exchange trades conducted in March 2020.