Money services businesses on a sanctions list in Kenya targeting terrorist organization Al-Shabab will have their licenses reinstated but face enhanced scrutiny going forward, the head of the country's financial intelligence unit said. The remittance companies, which include Dahabshiil Kenya, Abu Dhabi-based UAE Exchange and Amal Express, were blacklisted with dozens of other firms and individuals in April following an attack by Somali-based Al-Shabab on Garissa University College in Kenya that left nearly 150 dead. The firms were given 24 hours, then a week to appeal their designations at the time. Rather than shutting them down completely, officials believe that...
Kenyan officials will remove some money services businesses from a governmental blacklist following evaluations of the companies' compliance controls, according to an individual with direct knowledge of the matter.
Kenyan officials will give money transfer companies and other businesses a week to appeal their inclusion on a sanctions list targeting al-Shabab, the head of the country's financial intelligence unit said.
Kenyan sanctions imposed Tuesday to clamp down on the finances of Somali terrorist group al-Shabab have sharply impacted money remittance businesses in London, company agents told ACAMS moneylaundering.com Thursday.