NCBA Investment Bank
NCBA Investment Bank
June 13, 2025 at 05:42 AM
*Blow as EU adds Kenya on list of high-risk nations for money laundering* Kenya joins several third-world nations on the commission’s watch list including Algeria, Angola, Cote d'Ivoire, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela. Other African countries already on the list include Burkina Faso, Cameroon, the Democratic Republic of Congo, Mali, Mozambique, Nigeria, South Africa, South Sudan and Tanzania. Outside Africa, some of the jurisdictions on this list are Afghanistan, Myanmar, Vietnam, and Yemen. The commission, however, delisted several jurisdictions from the watch list including Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda, and the United Arab Emirates. The listing means Kenya faces tough scrutiny of financial transactions involving its entities with the key 27-member European Union (EU) bloc. *_Source:Business Daily_*
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