ADVOKS GLOBAL · KENYA
Proceeds of Crime and Anti-Money Laundering Act
44A. Intervention by Centre
Edition: 2025-11-04 · In force
44A. Intervention by Centre
(1)Where the Centre, after consulting a reporting institution or a person required to make a report in terms of section 44, has reasonable grounds to suspect that a transaction or a proposed transaction may—(a)constitute money laundering, terrorism financing, proliferation financing and related activities; or(b)involve—(i)the proceeds of crime or proceeds of unlawful activities or property which is connected to the proceeds of crime or unlawful activities and related activities; or(ii)the proceeds of, or property which is connected to an offence relating to the financing of terrorism, proliferation financing and related activities; or(iii)property owned or controlled by or on behalf of, or at the direction of a person or entity identified or designated pursuant to the Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations (sub.leg) and related activities,the Center may, for purposes of achieving the objectives of the Act, direct the reporting institution or person, in writing, not to proceed with the transaction or proposed transaction or any other transaction in respect of the funds or property affected by that transaction or proposed transaction for a period not exceeding five working days as may be determined by the Centre, in order to allow the Centre to make the necessary inquiries concerning the transaction and, where the Centre considers it appropriate, to inform and advise an investigating authority, regulatory authority or tax agency.(2)For the purposes of calculating the period of five working days in subsection (1), Saturdays, Sundays and proclaimed public holidays shall not be taken into account.