Kenya has been added to the list of countries with high risk for money laundering and terror financing by the European Union.
In a statement, the EU noted that the move is important in protecting its financial systems. "The European Commission has updated its list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism (AML/CFT) regimes.
EU entities covered by the AML framework are required to apply enhanced vigilance in transactions involving these countries.
This is important to protect the EU financial system," read the statement.
