UPDATE APPENDED: 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. The government will move forward with restrictions against 85 organizations and individuals suspected of financing or otherwise serving the Somali terrorist group, but allow designees to present their cases to officials by the end of next week, Jackson Kitili, the interim director of Kenya's Financial Reporting Centre, told ACAMS moneylaundering.com Friday. "Today, the inspector general of the police is going to put up a notice in the...
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.
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 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.