Banks, insurers face Sh20m fines in new dirty cash fight

Author: Patrick AlushulaPublished on: September 17, 2026Country: Kenya
Business & Economy
Banks, insurers face Sh20m fines in new dirty cash fight

Banks and other financial institutions in Kenya face fines of up to Sh20 million for breaches of new terror-financing rules. The new regulations by the Ministry of Interior raise the maximum penalty for financial institutions more than sixfold from Sh3 million, and the jail term for offending officials is increased to 10 years from seven years previously.

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