Cbk News

NYS-linked banks to pay Sh392m CBK fine

The responses also related to Cbk’s assessment of the associated penalties and Action Plans to address the identified lapses.

The Star , Kenya Nov 16, 2018

CBK penalty pushes banks to raise vigilance

Cbk Governor Patrick Njoroge Banks will be more vigilant in flagging and freezing accounts for suspicious transactions after the regulator insisted on fining five banks that transacted National Youth Service (NYS) scandal money.

The Standard , Kenya Nov 16, 2018

Upesi Money Transfer; The safe, convenient and affordable way of transferring money Kenya News

They are licenced and regulated by the Central Bank of Kenya (Cbk) in Kenya and by the Financial Conduct Authority (FCA) in the United Kingdom.

Tuko , Kenya Nov 16, 2018

KCB, Equity, Cooperative banks to pay KSh 393 million fine for facilitating NYS scam Kenya News

- The banks had been slapped with the huge fine for illegally transacting with money swindled from National Youth Service - Central Bank of Kenya said it had taken the penalty was vital for curbing money laundering and countering financing of terrorism - The banks wrote to the Cbk to review the exorbitant fines and reduce penalty - The banks; regulator however stated submissions by the five top banks was shallow and didn't warrant a reduction of the fines The Central Bank of Kenya (Cbk) has refused to review downwards KSh 392.5 million fine imposed on five banks for transacting illegally with money stolen from National Youth Service (NYS).

Tuko , Kenya Nov 16, 2018

Uhuru vows NYS will be safeguarded to eliminate graft

His statement came as the Central Bank of Kenya (Cbk) declined to reverse the Sh392 million penalties slapped on five banks implicated in the NYS scam.

Capital News , Kenya Nov 16, 2018

CBK upholds fines on five commercial lenders over NYS scandal

Cbk Headquarters in Nairobi (PHOTO: FILE) NAIROBI, KENYA: Central bank has upheld fines it slapped on five commercial lenders in September over suspicious transactions linked to NYS scam.

The Standard , Kenya Nov 16, 2018

Banks fail to reverse CBK's Sh392m fine for handling illicit NYS

Market News Banks fail to convince Cbk to reverse Sh392m penalty over NYS scam Five banks used in handling stolen National Youth Service (NYS) funds have failed to convince the Central Bank of Kenya to drop or alter the Sh392.5 million fine imposed on them in mid September.

Business Daily Africa , Kenya Nov 16, 2018

CBK upholds Sh392m bank penalties over NYS scam

Cbk said on Friday in a statement that responses by Standard Chartered Bank, Equity Bank, KCB Bank, Co-operative Bank and Diamond Trust Bank Kenya were not watertight to make the regulator alter the penalties.

Daily Nation , Kenya Nov 16, 2018

Five banks lose bid to block Sh392m CBK fine over NYS scandal

The Central Bank of Kenya (Cbk) on Friday said the banks presented insufficient responses on why they should not be penalised.

The Star , Kenya Nov 16, 2018

Kenya central bank upholds fines against lenders for suspect transactions

Cbk (Central Bank of Kenya) has reviewed each bank’s response to the penalty assessment and has concluded that the submissions were not sufficient to alter the findings of the investigations and the penalties assessed,” the bank said.

Reuters , Africa Nov 16, 2018