AFTER FOURTEEN YEARS KENYA GETS GREY LISTED BY THE FINANCIAL ACTION TASK FORCE.
Image on Freepik 1.0 INTRODUCTION Established in 1989, the Financial Action Task Force (FATF) as an intergovernmental organization leads global action to combat money laundering, terrorist and financial proliferation. [1] The FATF assesses and monitors how countries are taking effective measures to combat money laundering and terrorist financing. Through the standards set to combat the financial proliferation and money laundering, the FATF holds countries accountable through identification and listing of countries depending on their risks to compliance. [2] Countries can either be black-listed, grey-listed or white-listed. Countries listed on the FATF’s “White List” are recognized for their adequate measures against money laundering and terrorist financing. These countries are known for their strong legal frameworks and enforcement actions, and they actively participate in international coope...