An appraisal of the Institutional framework under the Kenyan proceeds of crime and Anti-Money laundering act, 2009
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Date
2017
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Western Cape
Abstract
Money laundering (ML) evolves in tandem with global technological advancement. This
phenomenon calls for multi-faceted responsive measures at national and international levels
to combat this nefarious crime.1 Today, combating ML requires co-operation among, inter
alia, financial intelligence units (FIUs), reporting institutions, law enforcement agencies, the
judiciary, as well as inter-state co-operation. In response to the ML threat, Kenya has adopted
comprehensive anti-money laundering (AML) laws, such as the Proceeds of Crime and Anti-
Money Laundering Act No. 9 of 2009 (POCAMLA) and the Prevention of Terrorism Act No. 30
of 2012. These, among other statutes, constitute the principal arsenal of the AML legal
framework.
Description
Department of Criminal Justice and Procedure
Keywords
Competent authorities, Confidentiality principle, Financial institutions, Financial intelligence units, Kenya, Money laundering, Palermo Convention, Reporting institutions, Vienna Convention