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US flags Kenya for relaxing dirty cash reporting rule
Three Nigerians suspected to enjoy the backing of a powerful Kenyan politician and two Kenyans wired Sh25.6 billion between October and November 2020. FILE PHOTO | NMG
Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers.
A new US report tracking the global money-laundering hotspots also says Kenya appears to have taken a step back in the fight after last year it lifted the threshold of reporting cash transactions above Sh1 million.
