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Lawyers sign pact with State to report clients’ dirty cash
From left: Law Society of Kenya member Mwaura Kabata, LSK President Eric Theuri and LSK practice Standard and Ethics Committee Linda Kiome addressing journalists on May 17, 2023. PHOTO | BONFACE BOGITA | NMG
Lawyers have caved in to mounting pressure to report suspicious transactions by their clients to the Financial Reporting Centre (FRC) in a major boost to the fight against money laundering in Kenya.
The move ends a stalemate that had tested one of the conditions Kenya was required to fulfil to continue accessing a Sh334 billion ($2.34 billion) loan from the International Monetary Fund (IMF).
