How far can we go? Assessing the scope of the Legal Professional Privilege in combating money laundering through the Real Estate Sector in Kenya

Abstract

The Kenyan government recently passed a law, the Proceeds of Crime and Anti- Money Laundering Act) (PCAMLA), aimed at combating money laundering. The enactment of the law underlines Kenya's avowed commitment to adhere to, and give effect to the Financial Action Task Force (FATF) Recommendations. The FATF is an inter-governmental body that was established in 1989 by the Ministers of its Member jurisdictions? Its main objective is 'to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system'." To achieve its objectives, it, in 1990 came up with a set of 40 Recommendations that are today considered the best practices for combating money laundering and the financing of terrorism," To ensure that they remain up to date and of universal application, these Recommendations have been revised four times, the most recent amendments being in 2012.