How real estate put Kenya on dirty cash grey list

The 411 registered real estate agents filed only two suspicious transaction reports (STRs) to the Financial Reporting Centre in the five years to 2021. PHOTO | SHUTTERSTOCK

By DOMINIC OMONDI More by this Author

    

The 411 registered real estate agents filed only two suspicious transaction reports (STRs) to the

Financial Reporting Centre in the five years to 2021, a deficiency that might be exploited by criminals who want to conceal their dirty cash.

This deficiency is one of the reasons the Financial Action Task Force (FATF), the global anti-money laundering watchdog, put Kenya under high surveillance in what is known as the grey list with 21 other countries.

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