In this episode recorded on 29.02.2024, we host Nankunda Katangaza - Co-founder and Director, Hook Tangaza, John Kamau - Associate Director Financial Crime Advisory, PwC EA, and Titus Kariuki Senior Manager Financial Crime Advisory, PwC EA to unpack the repercussions of Kenya's greylisting by The Financial Action Task Force (FATF).
We also cover the issues Kenya needs to address to get off the grey list, measures to protect against financial crime, cryptocurrency as an attractive channel for illicit funds, and enhancing compliance.
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Show Notes
00:00:00 Introduction
00:04:41 FATF, AML, and CFT
00:07:33 Implications of Being on the Grey List
00:25:13 Issues to Address to Get Off the Grey List
00:36:50 Challenges in Reporting Suspicious Transactions
00:42:52 Enhancing Compliance
00:59:07 LSK’s Contribution Towards Getting Kenya Off the Grey List
01:04:04 Cryptocurrency as an Attractive Channel for Illicit Funds
01:07:18 Protecting Against Financial Crime
01:13:54 Closing Remarks
Implications of Kenya's FATF Greylisting