By Primerose Omoto
Kenya hosted the Eastern and Southern Africa Anti-Money Laundering Group (ESAAM) plenary marking 25 years of dedication in regional and global efforts to combating financial crimes and enhance security
The group has been actively working with the Financial Action Task Force (FATF) to address strategic deficiencies to counter money laundering, terrorist financing and proliferation financing.
The Principal Secretary of the National Treasury & Economic Planning, Dr. Chris Kiptoo emphasized the importance of the task force’s work and the progress it has made over the years.
“From small beginnings, the number of experts and the secretariat has quadrupled and has the number of experts and assessors available within our membership. This has led to an increase in the number of mutual evaluations and has improved the quality of the typology reports”, he said.
He also noted that the level of awareness in the region both in the public and private sectors, has grown by leaps and bounds.
Acknowledging challenges faced, Dr. Kiptoo warned “Increasing activity by armed groups in the southern and eastern African region calls for greater cooperation and coordination among member countries, emphasizing the need for joint training, capacity building and information exchanges.”
“ESAAM has just concluded the 2nd round of mutual evaluations and will soon be embarking on the 3rd round of evaluations. The taskforce is committed to ensuring the adoption and implementation of the FATF recommendations and their effective application in the region to deter financial crime,” he said.
The regional body was represented by delegates from 21 member countries and several regional and international observers.
Key figures in attendance include the Executive Secretary of the Financial Action Task Force, Ms. Violaine Clerc. The Attorney General, Ms. Dorcas Oduor and The Director General of Financial Reporting Centre, Mr. Saitoti Maika.
