Central Bank of Kenya has taken regulatory actions against Absa Bank, formerly Barclays Bank for conducting illegal transactions.
The news came in on Thursday morning stating that the Central Bank Of Kenya has sanctioned once formerly Barclays Bank (Absa Bank) for their involvement in an illegal financial transactions.
According the statement released by the bank on Thursday stating that the Central Bank Of Kenya has taken a regulatory action against Absa Bank Kenya PLC (Absa Kenya), following the bank’s failure to provide information about some specific foreign exchange trades that it conducted in March 2020.
In investigating these and other earlier transactions it is evident that Absa Kenya did not have satisfactory assurance of the underlying commercial transactions supporting these trades, as is required, nor did the bank ensure the standard checks on the anti-money laundering and combating the financing of terrorism (AML/CFT) and know-your-customer (KYC) requirements were applied
Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited, has been a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
Although several banks in Kenya laundered NYS money. Looted public money. But executives were never held accountable. The banks were fined and left to thrive. Individuals executives who actually authorized the money laundering were never held accountable. It must be nice working in a bank. when banks falters or are caught in illegal transactions like this they should prosecuted for such indulgence because this is not why people deposit their money they.
I Feel Better Now.., Won’t Give Up – Christian Eriksen
Denmark midfielder, Christian Eriksen has raised hope high as he gives an update for the first time after his unexpected...
Bruno Lage Excited As He Takes Up New Coaching Job In Wolverhampton Wanderers (Wales)
Erling Haaland Is The Missing Player, Chelsea Desperately Want To Sign Him – Ex-Norway striker, Fjortoft
Euro 2020: Here Is The New Rule On Handball
Why I Didn’t Join Real Madrid In 2014 – Mbappe
I Don’t Believe Him – Aguero’s father Speaks About His Son & Man City Coach, Guardiola
Eric Mobley one time former American professional basketball player reported dead at age 52
It’s Real – Robert Marawa Says As He Shares His COVID-19 Experience
TV personality, Robert Marawa has opened up to share his experience after testing positive for COVID. He disclosed a lot...
Anele Mdoda Appreciates An Artist Who Did A Portrait Of Her
South African talk host star, Anele Mdoda has decided to appreciate an artist who made a portrait of her and...
Amapiano: Samthing Soweto Is My Favorite Male Vocalist – Cassper Nyovest
Cassper Nyovest has revealed that Samthing Soweto is his favourite amapiano vocalist by far in the SA music industry. He...
As Long As Am Happy – Boity Fires At Fans Talking About Her Weight Gain
Boity Thulo has fired at her fans who are body shaming her for the sudden weight gain. The star warned...
Singer Niniola receives a certificate from Grammy Awards
Singer Niniola has received a certificate from Grammy Awards, The certificate is for her contribution to Beyonce’s album, The Lion...
What I Would Love To Do With My Late Brother – Cassper Nyovest
South African rapper, Cassper Nyovest revealed what he would love to do with his late brother and would have the...
Breaking News: Former Gem MP Kenya, Jakoyo Midiwo is dead – Family confirms
We are saddened to announce that Former Gem MP Kenya, Jakoyo Midiwo has passed away. His family on Monday confirmed...