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Feb 23, 03:21 PM
Kenya, Namibia Added to Money Laundering Grey List; UAE Removed
Crypto

Kenya, Namibia Added to Money Laundering Grey List; UAE Removed

Authors
  • Bloomberg
  • Bitcoin.com News
  • AFP News Agency
5

Kenya and Namibia have been added to the international money laundering grey list, highlighting their shortcomings in tackling illicit financial flows, while the UAE has been removed from the list. The Financial Action Task Force (FATF) has directed Kenya to enhance its efforts in prosecuting money laundering activities. In response, Kenya has established a Crypto Working Group aimed at addressing the concerns related to cryptocurrency regulation. Meanwhile, Namibia's placement on the grey list denotes similar issues with illicit financial flows.

Written with ChatGPT (GPT-4).

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