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{
    "id": 1554015,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1554015/?format=api",
    "text_counter": 593,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Thank you very much, Hon. Temporary Speaker. In the United Kingdom, estate agents and art dealers are required to conduct customer due diligence and report suspicious transactions to the National Crime Agency. We must take decisive steps as a country. We cannot be a weak link in the global fight against financial crime. I would like to congratulate the Committee for conducting public participation. When I was reading the Report, I picked 15 detailed, well-thought-out memoranda from the Financial Reporting Centre, the Central Bank of Kenya, the Law Society of Kenya, the Institute of Certified Public Accountants of Kenya, of which I am a member, Transparency International, and the Office of the Director of Public Prosecutions. All those entities agreed with the merits of the Bill, but they were recommending far-reaching amendments that were far from the intent of the Bill. The Committee graciously said they would consider their recommendations in future. The burden is on the National Assembly. We need to send a clear message that Kenya is committed to protecting its financial system, that we honour our international commitments, and that we will not allow criminal networks to flourish unchecked. We must support the Bill, not because the Financial Action Task Force (FATF) demands it, but because our national interests demand it. That will protect our banks, pensions, investments and our ability to trade and engage with the rest of the world. The Bill is not just about compliance. It is about giving the rest of the world confidence that we are a country that enhances governance, financial integrity and national standing. As I finish, it is very important to reiterate what the impact of blacklisting would be if we move from the grey list to the black list. It means our financial transactions across banks will all go through extra scrutiny. With time, even the diaspora remittances that we get from our diaspora citizens may not be allowed to go through the international banking system. Kenya is part of the global village and we must admit that, therefore, we must fit in that global village. Fitting in that global village means we must move from grey listing. If we do not, we will go to the black list and we will go the way of North Korea and Iran."
}