Kenya ranked among major money laundering hotbeds across the world
By Mary Wambui
A report tabled before the US Congress has exposed Kenya’s vulnerability to money laundering, financial fraud and terrorism financing.
The vices are perpetuated through the growing use of mobile money transfer platforms, the hawala system of banking and Trade Based Money Laundering.
The document is part of the annual International Narcotics Control Strategy report tabled before the US Congress to monitor the most affected countries, and gaps and measures put in place to curb illicit financial transactions that further aid criminal activities.
Latest news
