President Ruto assents to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025.

Tariq Affan

Published: 17 June 2025

President Ruto assents to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025.

By Urban Shihemi, June 16, 2025 President William Ruto has assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025, was passed by the National Assembly. This bill aims to strengthen the country's legal framework against money laundering, terrorism financing, and the proliferation of weapons of mass destruction by amending ten existing Acts. The amendments align Kenya's laws with international standards, particularly those recommended by the Financial Action Task Force (FATF

This comes at a time when illicit financial flows, corruption, and terrorism financing pose substantial risks to the country’s economic stability and global reputation. The bill seeks to Strengthen oversight of vulnerable sectors including Betting Companies, SACCOs, NGOs, Property/Land Agents, and even Dealers in precious metals and stones The Bill introduced amendments to ten (10) existing Acts of Parliament relating to anti-money laundering, combating financing of terrorism and proliferation acts. In comparison to the UK and US, Kenya’s Bill aligns well with international frameworks but lacks certain advanced enforcement mechanisms, such as Unexplained Wealth Orders (UWOs) and geographical targeting tools. If well-executed, this Bill could significantly improve Kenya’s global standing in The Anti-Money Laundering Act (AML)/Combating the Financing of Terrorism (CTF) compliance, protecting the economy from illicit financial flows while fostering investor confidence. [video_player file="https://www.horizontv.co.ke/wp-content/uploads/2025/06/SIGN-CUTS.mp4"]

President Ruto assents to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025.

Tariq Affan

Mountain of Mercy and Darul Khair Launch ICT Training Centre to Empower Communit...

Andalucia Academy International School Nairobi Holds 10th Graduation Ceremony

Categories

Quick Links

Trending

Civil Society Warns Excessive Campaign Spending Could Push Kenya Toward Instabil...

Red Cross Confirms Transfer Of Last Gaza Hostage Remains By Hamas

Temporary Reopening Of Rafah Border To Let Gazans Enter Egypt

President Ruto assents to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025.

Tariq Affan

Follow us

Trending News

Newsletter

Categories

Quick Links

Trending