Losses From Suspicious Transactions Drop To K984M In 2019


The 2019 Money Laundering and Terrorist Financing Report disseminated 44 intelligence reports to Law Enforcement Agencies, of which suspected losses were valued at K984 million compared to K6.1 billion reported in 2018 from 80 intelligence reports disseminated.

The FIC received a total of 790 reports comprising of 748 Suspicious Transaction Reports in the period under review. In addition, the Centre received a total of 149,625 currency transaction reports in the year 2019 compared to 75,592 currency transaction reports received in 2018. This represents a 98 percent increase in the number of currency transaction reports filed with the Centre. The increase was on account of more reporting entities becoming aware of their reporting obligations. Of the total suspicious transaction reports received in 2019, 101 were analysed out of which forty four (44) were disseminated and 57 were closed as there were no reasonable grounds for dissemination.

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