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{
    "id": 124040,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/124040/?format=api",
    "text_counter": 228,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "The Bill is intended to provide strong legal and institutional framework generally and particularly criminalising money laundering in all its facets including provisions of a civil forfeiture regime. Under the Bill, predicated crimes of money laundering apply to all underlying unlawful activities both within and outside Kenya. This covers not only criminal offences but also other activities that contravene Kenyan law. The Bill contains measures to freeze and confiscate the instrumentalities of crime including confiscation and civil forfeiture provisions for property tracking, search and seizure powers. In addition, the Bill provides preventative measures for financial institutions and designated non-financial business and professionals and establishes legal framework for the financial reporting centre and creates an asset recovery agency responsible for implementing the confiscation and forfeiture of proceeds of crime. Mr. Deputy Speaker, Sir, provision is also made for international assistance in investigations and proceeds relating to money laundering and related crimes. Allow me to emphasize that the Bill has definitional clauses highlighting those acts that will be construed as money laundering and property that will be seen as having been acquired through criminal activities. It also creates the way to implement the objectives of the Bill. The agencies are the Financial Reporting Center, the Anti-Money Laundering Advisory Board and the Asset Recovery Agency---"
}