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Reporting Institutions

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Reporting institutions, according to Section 2 of the Proceeds of Crime and Anti-Money Laundering Act, 2009 (POCAMLA), are financial institutions or Designated Non-Financial Businesses and Professions (DNFBPs).

Reporting institutions are required to adhere to obligations under the POCAMLA, the Prevention of Terrorism Act 2023, and various legislation in relation to anti-money laundering, countering the financing of terrorism, and countering proliferation financing.

Each reporting institution is supervised for AML/CFT/CPF by a designated supervisory body or self-regulatory body (specific for legal professionals) as listed under the First Schedule of the POCAMLA.

Notwithstanding the above, the Financial Reporting Centre (FRC) is the supervisor of all reporting institutions in relation to anti-money laundering, countering the financing of terrorism, and countering proliferation financing.

POCAMLA Framework
Reporting Institutions by Sector and Profession

The following sectors and professions fall under the definition of Reporting Institutions under POCAMLA:

Section A
Financial Institutions
Supervisory Body Reporting Institutions
Central Bank of Kenya Commercial Banks and Mortgage Finance Institutions
Microfinance Institutions
Foreign Exchange Bureaus
Money Remittance Service Providers
Digital Credit Providers
Payment Service Providers
Capital Markets Authority Stock Brokers
Investment Banks
Fund Managers
Investment Advisers
Non-dealing Online Foreign Exchange Brokers
Online Foreign Exchange Money Managers
REIT Managers
Insurance Regulatory Authority Life Insurance Brokers
Life Insurance Providers
Life Insurance Agents
Retirement Benefits Authority Fund Managers
Sacco Societies Regulatory Authority Deposit Taking SACCOs
Non-Withdrawable Deposit Taking SACCOs
Important Note: The list of reporting institutions above is subject to change depending on the nature of activities carried out by the institution, in line with the definition of a Financial Institution under Section 2 of POCAMLA.
Section B
Designated Non-Financial Businesses and Professions (DNFBPs)
Supervisory Body Reporting Institutions
Estates Agents Registration Board Real Estate Agencies
Betting Control and Licensing Board Casinos (including Internet Casinos)
The Ministry of Mining, Blue Economy and Maritime Affairs Dealers in Precious Metals and Dealers in Precious Stones
The Institute of Certified Public Accountants of Kenya Accountants
The Institute of Certified Secretaries of Kenya Trust and Company Service Providers
The Law Society of Kenya Advocates, Notaries and other independent legal professionals

Compliance Reminder: Reporting institutions are expected to understand and comply with applicable obligations relating to anti-money laundering (AML), countering the financing of terrorism (CFT), and countering proliferation financing (CPF).