Proceeds of Crime and Anti-Money Laundering Act

Section 1. Short title Section This Act may be cited as the Proceeds of Crime and Anti-Money Laundering Act.

Section 2. Interpretation Section In this Act, unless the context otherwise requires— "account" includes any facility or arrangement by which a reporting institution ("a financial institution and designated non-financial business and profession;") does any one or more of the following— (a) accepts deposits of monetary instruments ; (b) allows withdrawals of monetary instruments or transfers into or out of the account; (c) pays cheques or payment orders drawn on a financial institution or collects cheques or payment orders on behalf of any person ("any natural or legal person;") ; (d) supplies a facility or arrangement for a safety or fixed term deposit box; "accounting officer" means an accounting officer appointed under section 17 of the Government Financial Management Act (Repealed); "Advisory Board" means the Asset Recovery Advisory Board established under section 55A ; "affected gift" means any gift made by the defendant ("a person against whom a prosecution for an offence has been instituted, irrespective of whether that person has been convicted or not;") at any time, if it was a gift of property ("all monetary instruments and all other real or personal property of every desc...

Section 2A. Scope of application Section This Act shall apply to matters relating to combating of money laundering ("an offence under any of the provisions of sections,and;") , combating of terrorism financing and combating of the financing of proliferation of weapons of mass destruction. [Act No. 10 of 2023 , Sch.]

Section 3. Money laundering Section enters into any agreement or engages in any arrangement or transaction with anyone in connection with that property ("all monetary instruments and all other real or personal property of every description, including things in action or other incorporeal or heritable property, whether situated in Kenya or elsewhere, whether tangible or intangible, and includes an interest in any such property and any such legal documents or instruments evidencing title to or interest in such property;") , whether that agreement, arrangement or transaction is legally enforceable or not; or

Section 4. Acquisition, possession or use ofproceeds of crime Section acquires;

Section 5. Failure to report suspicion regardingproceeds of crime Section A person ("any natural or legal person;") who wilfully fails to comply with an obligation contemplated in section 44 (2) commits an offence.

Section 6. Defence Section If a person ("any natural or legal person;") is charged with committing an offence under section 3 , 4 or 5 , that person may raise as a defence the fact that he had reported a suspicion under the terms and conditions set forth in section 44 or, if the person is an employee of a reporting institution, that he has reported information pursuant to section 47 (a).

Section 7. Financial promotion of anoffence Section A person ("any natural or legal person;") who, knowingly transports, transmits, transfers or receives or attempts to transport, transmit, transfer or receive a monetary instrument or anything of value to another person ("any natural or legal person;") , with intent to commit an offence , that person ("any natural or legal person;") commits an offence .

Section 8. Tipping off Section 8(1)(i) knows or ought reasonably to have known that a report under section 44 is being prepared or has been or is about to be sent to the Centre; and Section 8(1)(ii) discloses to another person ("any natural or legal person;") information or other matters relating to a report made under paragraph (i), Section 8(2) In proceedings for an offence under this section, it is a defence to prove that the person ("any natural or legal person;") did not know or have reasonable grounds to suspect that the disclosure was likely to prejudice a report made under subsection (1). Section 8(3) For the purposes of this section, a " person ("any natural or legal person;") " includes a financial group . Section 8(4) The act of a lawyer, notary and other independent legal professional seeking to dissuade a client from engaging in an illegal activity's does not constitute the offence of tipping-off under this section. [ Act No. 51 of 2012 , s. 4, Act No. 10 of 2023 , Sch.]

Section 9. Misrepresentation Section A person ("any natural or legal person;") who knowingly makes a false, fictitious or fraudulent statement or representation, or makes, or provides, any false document , knowing the same to contain any false, fictitious or fraudulent statement or entry, to a reporting institution ("a financial institution and designated non-financial business and profession;") , or to a supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or to the Centre ("the Financial Reporting Centre established under;") , commits an offence .

Section 10. Malicious Reporting Section Any person ("any natural or legal person;") who wilfully gives any information to the Centre ("the Financial Reporting Centre established under;") or an authorised officer knowing such information to be false commits an offence .

Section 11. Failure to comply with the provisions of this Act Section 11(1) A reporting institution ("a financial institution and designated non-financial business and profession;") that fails to comply with any of the requirements of sections 44 , 45 and 46 , or of any regulations, commits an offence. Section 11(2) In determining whether a person ("any natural or legal person;") has complied with any requirement of the provisions referred to in subsection (1), the court ("a court of competent jurisdiction;") shall have regard to all the circumstances of the case, including such custom and practice as may, from time to time, be current in the relevant trade, business, profession or employment, and may take account of any relevant guidance adopted or approved by a public authority exercising supervisory functions in relation to that person ("any natural or legal person;") , or any other body that regulates or is representative of the trade, business, profession or employment carried on by that person ("any natural or legal person;") .

Section 12. Conveyance ofmonetary instrumentsto or from Kenya Section 12(1) A person ("any natural or legal person;") intending to convey monetary instruments in excess of the amount prescribed in the Second Schedule to or from Kenya whether as a traveller or through mail or cargoshall, before so doing, report the particulars concerning that conveyance to a person ("any natural or legal person;") authorised by the regulations ("regulations made under this Act;") for that purpose. Section 12(2) A person ("any natural or legal person;") authorised to receive a report made in subsection (1) shall, without delay, send a copy of the report to the Centre ("the Financial Reporting Centre established under;") . Section 12(3) A person ("any natural or legal person;") who wilfully fails to report the conveyance of monetary instruments into or out of Kenya, or materially misrepresents the amount of monetary instruments reported in accordance with the requirements of subsection (1) commits an offence . Section 12(4) Any monetary instrument used in a suspected violation of subsection (3), or which an authorised officer has reasonable grounds to suspect is tainted property , may be temporarily s...

Section 13. Misuse of information Section 13(1)(a) that information has been disclosed under the provisions of Part II; or Section 13(1)(b) that an investigation is being, or may be, conducted as a result of that disclosure, Section 13(2) The information collected on natural persons under this section shall be dealt according to the data ("representations, in any form, of information or concepts;") principles set out in the Data Protection Act, 2019. [ Act No. 24 of 2019 , 2nd Sch.]

Section 14. Failure to comply with order ofcourt Section A person ("any natural or legal person;") who intentionally refuses or fails to comply with an order of a court ("a court of competent jurisdiction;") made under this Act, commits an offence .

Section 15. Hindering apersonin performance of functions under this Act Section A person ("any natural or legal person;") who hinders a receiver, a police officer or any other person ("any natural or legal person;") in the exercise, performance or carrying out of their powers, functions or duties under this Act, commits an offence .

Section 16. Penalties Section 16(1)(a) in the case of a natural person ("any natural or legal person;") , to imprisonment for a term not exceeding fourteen years, or a fine not exceeding five million shillings or the amount of the value of the property ("all monetary instruments and all other real or personal property of every description, including things in action or other incorporeal or heritable property, whether situated in Kenya or elsewhere, whether tangible or intangible, and includes an interest in any such property and any such legal documents or instruments evidencing title to or interest in such property;") involved in the offence , whichever is the higher, or to both the fine and imprisonment; and Section 16(1)(b) in the case of a body corporate, to a fine not exceeding twenty-five million shillings, or the amount of the value of the property ("all monetary instruments and all other real or personal property of every description, including things in action or other incorporeal or heritable property, whether situated in Kenya or elsewhere, whether tangible or intangible, and includes an interest in any such property and any such legal documents or instruments evidencing...

Section 17. Secrecy obligations overridden Section 17(1) The provisions of this Act shall override any obligation as to secrecy or other restriction on disclosure of information imposed by any other law or otherwise. Section 17(2) No liability based on a breach of an obligation as to secrecy or any restriction on the disclosure of information, whether imposed by any law, the common law or any agreement, shall arise from a disclosure of any information in compliance with any obligation imposed by this Act. [ Act No. 51 of 2012 , s. 7]

Section 18. Client advocate relationship Section 18(1) Notwithstanding the provisions of section 17 , nothing in this Act shall affect or be deemed to affect the relationship between an advocate and his client with regard to communication of privileged information between the advocate and the client. Section 18(2) The provisions of subsection (1) shall only apply in connection with the giving of advice to the client in the course and for purposes of the professional employment of the advocate or in connection and for the purpose of any legal proceedings on behalf of the client. Section 18(3) Notwithstanding any other law, a Judge of the High Court may, on application being made to him in relation to an investigation under this Act, order an advocate to disclose information available to him in respect of any transaction or dealing relating to the matter under investigation. Section 18(4) Nothing in subsection (3) shall require an advocate to comply with an order under that subsection to the extent that such compliance would be in breach of subsection (2).

Section 19. Immunity where actions are exercised in good faith Section A suit, prosecution or other legal proceedings shall not lie against any reporting institution ("a financial institution and designated non-financial business and profession;") or Government entity, or any officer, partner or employee thereof, or any other person ("any natural or legal person;") in respect of anything done by or on behalf of that person ("any natural or legal person;") with due diligence and in good faith, in the exercise of any power or the performance of any function or the exercise of any obligation under this Act.

Section 20. Protection of information and informers Section 20(1) Where any information relating to an offence under this Act is received by the Centre ("the Financial Reporting Centre established under;") or an authorised officer , the information and the identity of the person ("any natural or legal person;") giving the information shall be kept confidential. Section 20(2)(a) where it is for the purposes of assisting the Centre ("the Financial Reporting Centre established under;") or the authorised officer to carry out their functions as stated under this Act; or Section 20(2)(b) for the purposes of this Act; or Section 20(2)(b)(i) for the purposes of this Act; or Section 20(2)(b)(ii) where the court ("a court of competent jurisdiction;") is of the opinion that justice cannot fully be done between the parties without revealing the disclosure or the identity of any person ("any natural or legal person;") as the person ("any natural or legal person;") making the disclosure.

Section 21. Establishment of a Financial ReportingCentre Section suing and being sued;

Section 22. Headquarters Section The headquarters of the Centre ("the Financial Reporting Centre established under;") shall be in Nairobi.

Section 23. Objectives of theCentre Section 23(1) The principal objective of the Centre ("the Financial Reporting Centre established under;") is to assist in the identification of proceeds of crime ("any property or economic advantage derived or realized, directly or indirectly, as a result of or in connection with an offence irrespective of the identity of the offender and includes, on a proportional basis,property into which any property derived or realized directly from the offence was later successively converted, transformed or intermingled, as well as income, capital or other economic gains or benefits derived or realized from such property from the time the offence was committed;") and combating of money laundering ("an offence under any of the provisions of sections,and;") , combating terrorism financing and combating of proliferation financing. Section 23(2)(a) make information collected by it available to investigating authorities, supervisory bodies and any other bodies relevant to facilitate the administration and enforcement of the laws of Kenya; Section 23(2)(b) exchange information with similar bodies in other countries regarding money laundering ("an offence under a...

Section 24. Functions and powers of theCentre Section all reports made pursuant to section 12 ;

Section 25. Appointment of Director-General Section 25(1) There shall be a Director-General of the Centre ("the Financial Reporting Centre established under;") . Section 25(2) The Director-General shall be fit, competent and proper persons, recommended by the Board ("the Anti-Money Laundering Advisory Board established under;") and approved by the National Assembly for appointment to their respective positions. Section 25(3) On approval of a person ("any natural or legal person;") by the National Assembly under subsection (2), the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") shall appoint that person ("any natural or legal person;") to the office in respect of which the approval was given. Section 25(4)(a) holds a degree in law, public administration, management, international relations, economics or finance from a recognised institution; Section 25(4)(b) has at least ten years work experience in the relevant field, of which at least three shall be in senior management; and Section 25(4)(c) meets such other requirements that may be prescribed by the Board ("the Anti-Money Laundering Advisory Board established under;") ....

Section 26. Resignation of Director-General Section 26(1) The Director-General may resign by a written resignation addressed to the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") . Section 26(2) A resignation is effective upon being received by the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") or by a person ("any natural or legal person;") authorized by the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") to receive it. [ Act No. 3 of 2017 , s. 6. Act No. 16 of 2021 , s. 5.]

Section 27. Removal from office Section 27(1)(a) where there is proof of a financial conflict of interest with any reporting institution ("a financial institution and designated non-financial business and profession;") ; Section 27(1)(b) if he is adjudged bankrupt or enters into a composition or scheme of arrangement with his creditors; or Section 27(1)(c) if he has been convicted of an offence for which one may be sentenced to imprisonment for a term exceeding six months. Section 27(2) The Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") may, in consultation with the Board ("the Anti-Money Laundering Advisory Board established under;") , suspend the Director-General from office pending determination of any inquiry as to whether grounds of misconduct, incapacity or incompetence exist. [ Act No. 3 of 2017 , s. 7, Act No. 16 of 2021 , s. 6.]

Section 28. Responsibilities of the Director-General Section 28(1) The Director-General shall be the Chief Executive Officer of the Centre ("the Financial Reporting Centre established under;") and shall be responsible for its direction and management. Section 28(2)(a) the formation and development of an efficient and performance driven administration; Section 28(2)(b) control and maintenance of discipline of staff; and Section 28(2)(c) taking all decisions of the Centre ("the Financial Reporting Centre established under;") in the exercise, discharge and performance of the Centre ("the Financial Reporting Centre established under;") 's objectives, powers, functions and duties. Section 28(3) The Director-General shall perform the functions of the office subject to the policy framework which may be prescribed by the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") on the advice of the Board ("the Anti-Money Laundering Advisory Board established under;") . [ Act No. 3 of 2017 , s. 8, Act No. 16 of 2021 , s. 7.]

Section 29. Delegation by the Director-General Section 29(1) Subject to this Act, the Director-General may in writing, delegate any of his powers and duties under this Act to any other officer or officers of the Centre ("the Financial Reporting Centre established under;") as the Director-General may determine. Section 29(2) A delegation made under subsection (1) may, at any time, be varied or cancelled by the Director-General. [Act No. 3 of 2017, s. 9.]

Section 30.[Repealed by ActNo. 16 of 2021, s. 8.]

Section 31. Appointment of staff Section 31(1) The Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") may approve the general terms and conditions of service of the Centre ("the Financial Reporting Centre established under;") . Section 31(2) The Centre ("the Financial Reporting Centre established under;") shall determine its own staff establishment and may appoint other officers as are necessary for the proper discharge of its functions under this Act in accordance with the approved general terms and conditions of service. Section 31(3) The Centre ("the Financial Reporting Centre established under;") may engage the services of any person ("any natural or legal person;") by agreement including any state department to perform any specific act or function. [ Act No. 3 of 2017 , s. 11]

Section 32. Oath of confidentiality Section before they begin to perform any duties under this Act, take and subscribe before a Magistrate or Commissioner for Oaths the oath of confidentiality prescribed in the Third Schedule;

Section 33. Inspection Section 33(1) Where an inspection is made under section 24 (c), the reporting institution concerned and every officer and employee thereof shall produce and make available to the inspector all the books, accounts and other documents of the reporting institution and any correspondence, statements and information relating to the reporting institution, its business and the conduct thereof which the inspector may require within seven days or such longer time as the inspector may direct in writing. Section 33(2) Failure to produce books, accounts, records, documents, correspondence, statements, returns or other information within the period specified in the direction under subsection (1) shall constitute an offence under this Act. Section 33(3) The books of accounts and other documents required to be produced shall not, in the course of inspection, be removed from the premises of the reporting institution ("a financial institution and designated non-financial business and profession;") or other premises at which they are produced. Section 33(4) The inspector ("a person designated as such under this Act;") shall make copies of any books, accounts and other document...

Section 34. Obligation to respond to the inspection reports Section The Director-General may by notice in writing and after giving the reporting institution ("a financial institution and designated non-financial business and profession;") a reasonable opportunity of being heard, require the reporting institution ("a financial institution and designated non-financial business and profession;") to comply by the date or within the period as may be specified therein, with such directions as are necessary in connection with any matter arising out of a report made under section 33 . [ Act No. 3 of 2017 , s. 14]

Section 35. Obligation of persons to provide information to the inspectors Section 35(1)(a) give to the inspector ("a person designated as such under this Act;") all reasonable assistance in connection with the inspection; or Section 35(1)(b) appear before the inspector ("a person designated as such under this Act;") for examination concerning matters relevant to the inspection; or Section 35(1)(c) produce any books or documents that relate to the affairs of the reporting institution ("a financial institution and designated non-financial business and profession;") . Section 35(2)(a) refuses or fails to comply with a requirement of an inspector ("a person designated as such under this Act;") which is applicable to that person ("any natural or legal person;") , to the extent to which the person ("any natural or legal person;") is able to comply with it; or Section 35(2)(b) obstructs or hinders an inspector ("a person designated as such under this Act;") in the exercise of the powers under this Act; or Section 35(2)(c) furnishes information which the person ("any natural or legal person;") knows to be false or misleading in any material way; or Section 35(2)(d) appears before an inspe...

Section 36. Obligation of asupervisory bodyand its staff Section 36(1) A supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or Self-regulatory body and its staff shall report to the Centre ("the Financial Reporting Centre established under;") any suspicious transaction that the supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or Self-regulatory body or its staff may encounter during the normal course of their duties. Section 36(2) A person ("any natural or legal person;") who as an employee of a supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or Self-regulatory body deliberately or with intention to deceive does not make a report in accordance with this section commits an offence . Section 36(3)(a) in the case of a natural person ("any natural or legal person;") , imprisonment for a term not exceeding three years or a fine not...

Section 37. TheCentre’s power to obtain a search warrant Section 37(1) The Centre ("the Financial Reporting Centre established under;") or the appropriate law enforcement agency, may apply to the High Court for a warrant to enter any premises belonging to or in the possession or control of a reporting institution ("a financial institution and designated non-financial business and profession;") or any officer or employee thereof, and to search the premises and remove any document , material or other thing therein for the purposes of the Centre ("the Financial Reporting Centre established under;") , as ordered by the High Court and specified in the warrant. Section 37(2)(a) the reporting institution ("a financial institution and designated non-financial business and profession;") has failed to keep or produce documents, records, or report on a suspicious transaction, as required by this Act; or Section 37(2)(b) an officer, employee or partner of a reporting institution ("a financial institution and designated non-financial business and profession;") is committing, has committed or is about to commit any offence under this Act.

Section 38. Property tracking and monitoring orders Section identifying, locating or quantifying that property ("all monetary instruments and all other real or personal property of every description, including things in action or other incorporeal or heritable property, whether situated in Kenya or elsewhere, whether tangible or intangible, and includes an interest in any such property and any such legal documents or instruments evidencing title to or interest in such property;") ; or

Section 39. Orders to enforce compliance with obligations under this Act Section 39(1) A person ("any natural or legal person;") who fails to comply with any obligation provided for under this Act, commits an offence . Section 39(2) The Centre ("the Financial Reporting Centre established under;") may, upon application to the High Court, after satisfying the Court that a reporting institution ("a financial institution and designated non-financial business and profession;") has refused to comply with any obligation, request or requirements under this Act, obtain an order against all or any officers, employees or partners of the reporting institution ("a financial institution and designated non-financial business and profession;") in such terms as the High Court may deem necessary, in order to enforce compliance with such obligation. Section 39(3) In granting the order pursuant to subsection (2), the High Court may order that should the reporting institution ("a financial institution and designated non-financial business and profession;") fail, without reasonable excuse, to comply with all or any provisions of the order, may order that institution, its officers, employees or partners...

Section 40. Constitution of funds Section 40(1)(a) money appropriated by Parliament for the purposes of the Centre ("the Financial Reporting Centre established under;") ; Section 40(1)(b) any Government grants made to it; Section 40(1)(c) any other money legally acquired by it, provided that the Centre ("the Financial Reporting Centre established under;") may accept donations only with the prior written approval of the Cabinet Secretary ("the Cabinet Secretary for the time being responsible for matters relating to finance;") . Section 40(2) The sharing of information by the Centre ("the Financial Reporting Centre established under;") shall be with adherence to the data ("representations, in any form, of information or concepts;") principles set out in the Data Protection Act ( Cap. 411C ). [Act No. 24 of 2019 , 2nd Sch., Act No. 16 of 2021 , s. 10.]

Section 41. Financial year Section The financial year of the Centre ("the Financial Reporting Centre established under;") shall be a period of twelve months ending on the thirtieth June of each year.

Section 42. Annual estimates Section 42(1) At least three months before the commencement of each financial year, the Centre ("the Financial Reporting Centre established under;") shall cause to be prepared estimates of the revenue and expenditure of the Centre ("the Financial Reporting Centre established under;") for that year. Section 42(2)(a) the payment of salaries, allowances and other charges in respect of the staff of the Centre ("the Financial Reporting Centre established under;") ; Section 42(2)(b) the payment of pensions, gratuities and other charges in respect of the staff of the Centre ("the Financial Reporting Centre established under;") ; Section 42(2)(c) the proper maintenance of the buildings and grounds of the Centre ("the Financial Reporting Centre established under;") ; Section 42(2)(d) the maintenance, repair and replacement of the equipment and other property ("all monetary instruments and all other real or personal property of every description, including things in action or other incorporeal or heritable property, whether situated in Kenya or elsewhere, whether tangible or intangible, and includes an interest in any such property and any such legal documents or...

Section 43. Books of accounts, records, audit and reports Section 43(1) The Centre ("the Financial Reporting Centre established under;") shall cause to be kept proper books of accounts and records of accounts of the income, expenditure, assets and liabilities of the Centre ("the Financial Reporting Centre established under;") . Section 43(2)(a) a statement of income and expenditure during that period; Section 43(2)(b) a statement of the assets and liabilities of the Centre ("the Financial Reporting Centre established under;") on the last day of that year. Section 43(3) The accounts of the Centre ("the Financial Reporting Centre established under;") shall be audited and reported upon in accordance with the Public Audit Act ( Cap. 412B ).

Section 24A. Instructions or directions Section 24A(1) The Center may issue such instructions, directions, guidelines or rules to reporting institutions as it may consider necessary for the better carrying out of its functions under this Act or regarding the application of this Act. Section 24A(2)(a) be either general or special; Section 24A(2)(b) be revoked or varied by subsequent instructions, directions, guidelines or rules; Section 24A(2)(c) be given to such persons and in such manner as may be considered appropriate by the Centre ("the Financial Reporting Centre established under;") . Section 24A(3) The Center may, where it deems appropriate, delegate powers to a supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") to issue instructions, directions, guidelines or rules regarding the application of this Act to reporting institutions regulated or supervised by the supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") : Provided that a supervisory bod...

Section 24B. Powers of theCentreto impose civil penalties for non-compliance Section 24B(1)(a) in the case of a natural person ("any natural or legal person;") , a person ("any natural or legal person;") shall be liable to a monetary penalty not exceeding five million shillings; Section 24B(1)(b) in the case of a corporate body, the corporate body shall be liable to a monetary penalty not exceeding twenty-five million shillings; Section 24B(1)(c) in the case of continued failure, the person ("any natural or legal person;") or reporting institution ("a financial institution and designated non-financial business and profession;") shall be liable to an additional monetary penalty of ten thousand shillings per day on which such failure continues for a maximum period of one hundred and eighty days. Section 24B(2) Before imposing a monetary penalty on any person ("any natural or legal person;") or reporting institution ("a financial institution and designated non-financial business and profession;") under this section, the Centre ("the Financial Reporting Centre established under;") shall give not less than fourteen days notice in writing, requiring the person ("any natural or legal pers...

Section 24C. Disclosure in writing Section 24C(1)(a) issue a warning to a specified person ("any natural or legal person;") or reporting institution ("a financial institution and designated non-financial business and profession;") ; or Section 24C(1)(b) issue an order requiring a specified person ("any natural or legal person;") or reporting institution ("a financial institution and designated non-financial business and profession;") to comply with any specific instruction or direction issued by the Centre ("the Financial Reporting Centre established under;") ; Section 24C(1)(c) issue an order barring an individual or individuals from employment within the specified reporting institution ("a financial institution and designated non-financial business and profession;") whether entirely or in a specified capacity; Section 24C(1)(d) issue an order to a competent supervisory authority requesting the suspension or revocation of a license, registration, permit or authorization of a specified reporting institution ("a financial institution and designated non-financial business and profession;") whether entirely or in a specified capacity or of any director, principal, officer, agent or em...

Section 36A. Responsibility for supervision of Reporting Institutions Section 36A(1) The Centre ("the Financial Reporting Centre established under;") shall have the powers to regulate and supervise all reporting institutions, regarding the application of this Act. Section 36A(2) Subject to subsection (1), each supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or Self-regulatory body shall be responsible for supervising and enforcing compliance with this Act or any instruction, direction, guideline or rule made pursuant to or in terms of this Act by all reporting institutions regulated or supervised by it and to whom the provision of this Act apply. Section 36A(3) The obligation referred to in subsection (2) shall form part of the legislative mandate of any supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") or Self-regulatory body and shall constitute a core function of that supervisory body ("a functionary or institution specified in the First Sch...

Section 36B. Cooperation and collaboration of supervisory bodies Section 36B(1) A supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") may cooperate and coordinate with domestic and foreign counterparts for purposes of combating money laundering ("an offence under any of the provisions of sections,and;") , terrorism financing or proliferation financing. Section 36B(2)(a) share information and documents with a domestic or foreign counterpart; Section 36B(2)(b) conduct inquiries or undertake onsite inspection on behalf of a domestic or foreign counterpart; Section 36B(2)(c) on behalf of a domestic or foreign counterpart, appoint competent persons to investigate any matter under this Act; Section 36B(2)(d) authorise or facilitate foreign counterparts to undertake inquiries under this Act; Section 36B(3)(a) be kept confidential and may only be disclosed to a third party with the written consent of the supervisory body ("a functionary or institution specified in the First Schedule or such other functionary or institution as may be prescribed by the Cabinet Secretary;") pr...

Section 36C. Powers of supervisory bodies Section 36C(1)(a) to supervise, monitor and ensure compliance with anti- money laundering ("an offence under any of the provisions of sections,and;") , combating terrorism financing and countering proliferation financing requirements under this Act by reporting institutions regulated or supervised by it; Section 36C(1)(b) to conduct anti- money laundering ("an offence under any of the provisions of sections,and;") , combating terrorism financing countering proliferation financing and inspections of reporting institutions regulated or supervised by it; Section 36C(1)(c) to compel production of any information or document relevant to monitoring compliance with the anti- money laundering ("an offence under any of the provisions of sections,and;") , combating terrorism financing and countering proliferation financing requirements of reporting institutions regulated or supervised by it; Section 36C(1)(d) to issue guidelines, directions or rules for combating anti- money laundering ("an offence under any of the provisions of sections,and;") , combating terrorism financing and countering proliferation facing purposes to reporting institutions regu...