Individuals moving large undeclared cash volumes through Kenya face stiffer penalties in proposals meant to tighten Kenya’s anti-money laundering and counter-financing of terrorism.
In the amendments to the Anti-Money Laundering and Combating of Terrorism Financing Law (Amendment) Bill, 2023, such individuals will attract fines of up to 50 percent of the flagged cash volumes, a jail term of up to five years or both.
