KENYA BANKING SECTOR REGULATORS ON THE SPOT OVER NYS DIRTY CASH

The Daily Nation on 27th May reported that Central Bank of Kenya (CBK) and the State watchdog, the Financial Reporting Centre, are  in a tight spot yet again as details of the multi-billion scandal at the National Youth Service continue to emerge.  It refers to a potential red flag – whether commercial banks involved reported any suspicious transactions to the CBK and the FRC, and if so, what regulatory action the agencies took to stem the payments.  

https://www.nation.co.ke/business/Banking-sector-regulators-on-the-spot-over-NYS/996-4582222-ojbgm4z/index.html?src=ilaw

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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