frcbanner

Objectives:

The Financial Reporting Centre (FRC) (Kenya’s Financial Intelligence Unit) is established by Section 21 of POCAMLA. It is an independent body whose principal objective is to assist in the identification of the proceeds of crime and combating money laundering.

The other objectives of the FRC are to:

  • Make information collected by it (FRC) available to investigating authorities and supervisory bodies to facilitate the administration and enforcement of the laws of Kenya;
  • Ensure compliance with international standards and best practice in anti-money laundering measures;
  • Exchange information on money laundering activities and related offences with similar bodies in other countries.

 

FRC’s Powers and Functions

Under POCAMLA, the FRC has extensive functions and powers. These include:

  1. Implementation of registration system for Reporting Institutions;
  2. Receipt and analysis of reports of unusual or suspicious transactions and cash transaction reports made by Reporting entities as well as cash declaration forms received from border points;
  3. Dissemination of Reports received under the Act to appropriate law enforcement authorities or other supervisory body for further handling;
  4. Undertaking inspection and supervision of reporting institutions to ensure compliance with AML/CFT reporting obligations as prescribed in POCAMLA;
  5. Facilitating exchange of information on money laundering activities with other financial intelligence units in other countries;
  6. Formulating policies on anti-money laundering in consultation with the Board.
  7. Developing AML/CFT Regulations to provide guidance to support implementation of the Act;
  8. Developing AML/CFT training programs for reporting institutions.
  9. Compiling of statistics and records;
  10. Dissemination of information within Kenya or elsewhere, and make recommendations arising out of any information received;
  11. Issuing guidelines to reporting institution and advising the Minister;
  12. Creation and maintenance of a database of all reports of suspicious transactions, related Government information and such other materials as the Director may from time to determine to be relevant to the work of the Centre.

 

Mission, Vision and Values

Mission: To be the leader in financial intelligence works in the region and be recognized worldwide as an FRC  that adheres to international standards

Vision: To protect the integrity of our financial system and contribute to the safety of our citizens through deterrence of money laundering and terrorist financing.

Core Values: The values of the Centre provide the platform for its future success. The Centre seeks to ensure that all staff incorporate and utilize these values as a reference for all of their work and activities. To this end, all of the Centre’s staff will:

  • In the spirit demonstrate integrity in everything that we do (with amongst others, respect, honesty, trust, discipline, humility and loyalty)
  • Demonstrate pride and discipline in our work, accepting accountability and being prepared to ‘go the extra mile’
  • Strive for excellence and professionalism by effectively making a difference in executing our mandate by offering solutions, while not presenting problems only;
  • Value individuals and allow space for creativity and growth;
  • Optimize our relationship with stakeholders and partners; and
  • Ensure the security of organizational assets and information.

Highlights

  • Vacancy - Internal Audit

    04 October 2017

    The Financial Reporting Centre invites applications from suitable individuals to fill the post of Senior Manager, Internal Audit.  Detailed document is available in the dowloads section or directly through this link. Closing date is 17 Oct 2017.

     
  • Guidance on STR Reporting

    14 August 2017

    A new version of Guidance to Reporting Institutions on STR Reporting is now available in the download section.  You can also download it by clicking this link.

     
  • POCAMLA Act (Revised 2016)

    14 August 2017

    The Proceeds of Crime and Anti-Money Laundering Act 2009 (Revised 2016) is now available in the download section.  You can also download it by clicking this link.

     

International Organizations

Contacts

User: Director General
Address: Private Bag 
Nairobi
00200
Kenya
Email: info.frc@centralbank.go.ke
Phone: 254-2861600
Phone: http://www.frc.go.ke