KenyaThe Central Bank of Kenya and several other government offices issued a public notice regarding the growing use of fraudulent and unlicensed financial schemes seeking to take advantage of Kenyans during the COVID-19 pandemic, as well as money laundering and terrorist financing concerns.
The Basel Institute on Governance announced the successful prosecution by Kenya’s Office of the Director of Public Prosecutions of John Waluke, a member of Kenya’s Parliament, and Grace Wakhungu for their roles in a $3 million fraud and corruption scheme.
Experts call PPP loans safe for banks with strong AML controls, Denmark drops EY probe, and more, in the weekly roundup.
Justice Department warns pandemic may slow corporate investigations, Chinese national accused of fraudulent COVID-19 loan applications, and more, in the weekly 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.
| Technical | Effectiveness |
|---|---|
| Compliant : 1 | High : |
| Largely Compliant : 1 | Substantial : |
| Partially Compliant : 15 | Moderate : |
| Non-Compliant : 32 | Low : |
| Rank : 9/141 |
| Score : 7.18/10 |
| Rank : 137/180 |
| Score : 28/100 |
| Rank : 24/133 |
| Score : 76/100 |