Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
How real estate put Kenya on dirty cash grey list
The 411 registered real estate agents filed only two suspicious transaction reports (STRs) to the Financial Reporting Centre in the five years to 2021. PHOTO | SHUTTERSTOCK
The 411 registered real estate agents filed only two suspicious transaction reports (STRs) to the Financial Reporting Centre in the five years to 2021, a deficiency that might be exploited by criminals who want to conceal their dirty cash.
This deficiency is one of the reasons the Financial Action Task Force (FATF), the global anti-money laundering watchdog, put Kenya under high surveillance in what is known as the grey list with 21 other countries.
