The Financial Action Task Force (FATF) placed Kenya on its “grey list” of countries at risk of failing to combat money laundering, drug trafficking, corruption and terrorism.
After a visit to Kenya in May and a review at the FATF meeting in Paris in June, Kenya has been cleared.
This piece of news was received favourably by the east African country’s government as it plans to strike a deal with the City of London to transform Nairobi into a major international financial hub.

“On the basis of the on-site visit report, the FATF concluded that Kenya has established the legal and regulatory framework to address the strategic deficiencies that the FATF had identified,” Henry Rotich, cabinet secretary for the treasury, said in a newspaper statement.
This means that Kenya is no longer compelled to give public updates on its movements towards implementing its anti-money laundering regime.
During the review, the FATF ascertained that Kenya had implemented an effective financial intelligence unit, enforced laws to identify and freeze terrorist assets, established procedures for confiscating funds related to money laundering and imposed sanctions against people who failed to comply with anti-money laundering requirements.