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{
    "id": 1281772,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1281772/?format=api",
    "text_counter": 598,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "institutions regulated and supervised by the Central Bank and whom the provision of the Proceeds of crime apply. (2) In undertaking its mandate under subsection (1), the Central Bank may— (a) vet proposed significant shareholders, proposed beneficial owners, proposed directors and senior officers of a reporting institution; (b) conduct onsite inspection; (c) conduct offsite surveillance; (d) undertake consolidated supervision of a reporting institution and its group; (e) compel the production of any document or information the Central Bank may require for the purpose of discharging its supervisory mandate under the Proceeds of Crime and Anti- Money Laundering Act, 2009; (f) impose monetary, civil or administrative sanctions for violations related to anti-money laundering, combating the financing of terrorism and countering proliferation financing purposes; (g) issue regulations, guidelines, directions, rules or instructions for anti-money laundering, combating the financing of terrorism and countering proliferation financing purposes; (h) cooperate and share information for anti-money laundering, combating the financing of terrorism and countering proliferation financing purposes; and (i) take such action as is necessary to supervise and enforce compliance by reporting institutions in line with the provisions of the Proceeds of Crime and Anti-Money Laundering Act and any regulations, guidelines, rules, instruction or direction made or issued thereunder. (3) For purposes of this section, “reporting institution” has the meaning assigned to it under section 2 of the Proceeds of Crime and Anti-Money Laundering Act, 2009. 51B. (1) No money remittance, foreign exchange bureau, digital Penalties for violations credit provider, director, officer, employer, agent or any other relating to money laundering, terrorism person shall violate or fail to comply with any provision of the financing Proceeds of Crime and Anti-Money Laundering Act, 2009, or any regulation, guideline, rule, direction or instruction issued under the said Act or under this section. (2) A person who violates or fails to comply with the provisions of subsection (1) shall be liable— (a) in case of a legal person, to a penalty not exceeding five million shillings; (b) in the case of a natural person, to a penalty not exceeding one million shillings; and (c) to additional penalties not exceeding one hundred thousand shillings in each case for each day or part thereof during which such violation or non-compliance continues."
}