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Kenya Commercial Bank's Response
Author: Kenya Commercial Bank, Published on: 9 December 2018
"Statement on South Sudan Money Laundering Allegations"
KCB Group PLC has taken note of reports appearing in the media regarding South Sudan which adversely refer to KCB Bank South Sudan operations at various times in the last half of 2018. KCB Group wishes to disassociate itself with reports linking the bank to involvement in any form of money laundering....We have continually and promptly complied with all requests for sanctions against individuals and entities listed by the United Nations Security Council and other watch lists, and will continued to do so. Among them are the two UN Security Council Sanctions list (vide resolution 2206- 2015 and resolution 2428- 2018). At our level, this means isolating and freezing their respective accounts as per the provisions of the sanctions.
KCB Bank South Sudan continues to work closely with the Government of South Sudan and the Bank of South Sudan with regards to resolutions on sanctioned parties. KCB has continually engaged the UN Panel of Experts on South Sudan on the South Sudan sanctions and the authors of the Sentry Report on the Bank’s operations in the country. The bank also continues to work with the respective Central banks in Kenya and in South Sudan to strengthen the market environment in South Sudan. We reiterate that KCB Group has invested in a robust AML System, which ensures that we are in compliance with all the AML requirements. Additionally, we wish to emphasize that all wholly owned or controlled KCB Group companies are committed to implementing single global standards shaped by the most effective anti-money laundering standards available in any location where KCB operates.
This is a response from the following companies: Kenya Commercial Bank