The Financial Reporting Centre (FRC) has directed licensed dealers in precious metals and stones to register with the centre to ensure compliance with the Proceeds of Crime and Anti-Money Laundering Act, 2009 (POCAMLA).
In a statement shared by the State Department for Mining on its official X account, FRC Director General Saitoti Maika stated that dealers are required to register with the centre by 11 April 2025.
According to Maika, registration should be completed online through the goAML platform. "Dealers in precious metals and dealers in precious stones (DPMS) are reporting institutions under Section 2 of the POCAMLA and are required to register with the Centre under Section 47A of POCAMLA and therefore subject to AML/CFT/CPF supervision as prescribed under the POCAMLA," the statement read.
The Voi Gemology center was launched on Saturday, February 27 in Voi, Taita Taveta County.
