Kenya is among the global money laundering hotspots, the United States of American government has said. According to a report by the United States Department of State Bureau for International Narcotics and Law Enforcement Affairs, the state of affairs in the country are instigated by lack of controls on terrorism financing. “Kenya remains vulnerable to money laundering and financial fraud. It is the financial hub of East Africa, its banking and financial sector in sophistication, and it is at the forefront of mobile banking,” read the report in part.
Kenya Makes It To US’ List Of Global Money Laundering Hotspots