KCB refutes South Sudan money laundering links

kenya-commercial-bankFrom MARIA MACHARIA in Nairobi
NAIROBI, (CAJ News) – KENYA Commercial Bank Group has denied reports linking it to money laundering in South Sudan.

Investigative platform, The Sentry, published the report highlighting the prevalence of money laundering in the crisis-torn country.

Reference was named to KCB.

“We advise that KCB being a regulated entity deploys global standards applicable to Anti- Money Laundering guidelines and Know-Your-Customer requirements provided by the regulators in all the countries of our operations,” Joshua Oigara, KCB Group Chief Executive Officer and Managing Director.

He said KCB South Sudan continued to work closely with the Government of South Sudan and the Bank of South Sudan with regards to resolutions on UN Security Council Sanction List 2206.

“The Bank remains committed to safeguarding the confidentiality of customer information as required in the respective banking laws across our markets,” Oigara stated.

CAJ News

Short URL: http://cajnewsafrica.com/?p=15237

Posted by on Sep 13 2016. Filed under Africa & World, Featured, Finance, Finance & Banking, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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