Proceeds of Crime and Anti-Money Laundering Act | Cap. 59A — Kenya law | Esheria

Proceeds of Crime and Anti-Money Laundering Act

This Act may be cited as the Proceeds of Crime and Anti-Money Laundering Act.

AI-assisted research synopsis — verify against the official legal text below.

Jurisdiction
Kenya
Instrument
Act or statute
Citation
Cap. 59A
Version
15 Sept 2023
Language
en
Official source
View official record ↗

Source attribution: Source: Kenya Law

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Statute overview

About this statute

This Act may be cited as the Proceeds of Crime and Anti-Money Laundering Act. The Act applies to matters relating to combating money laundering, combating terrorism financing, and combating financing of proliferation of weapons of mass destruction. Section 2 provides definitions and interpretive provisions used throughout the Act (it defines terms such as "account", "affected gift", "Agency", "authorised officer", "financial institution", "monetary instruments", "proceeds of crime", "person", and many others). A person who wilfully gives false information to the Financial Reporting Centre or an authorised officer commits an offence. Reporting institutions must not fail to comply with the requirements of sections 44, 45 and 46 or regulations; failing to do so is an offence. Courts must consider all circumstances and may take account of relevant guidance.