Kenya has again been put under high watch for not having strong safeguards against the flow of dirty cash, joining 23 other countries in a list of shame known as the ‘grey list’.
On Friday, the Finance Action Task Force (FATF), the global anti-money laundering watchdog, made a decision to put Kenya on the grey list in a move that is likely to hurt Nairobi’s standing as the financial centre of the region.
The grey list refers to countries that have deficiencies in dealing with money laundering and terrorist financing.
