January 2026

THE FRC IMPOSES A MONETARY PENALTY ON A NON-COMPLIANT REPORTING INSTITUTION

The Financial Reporting Centre levied a monetary penalty of KSh. 200,000 on a non-compliant Reporting Institution for failure to take remedial actions as directed following an onsite inspection. In the said onsite inspection, the FRC identified areas of non-compliance, including gaps in the institutions Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) policies and […]