Lawyer Tom Ojienda wants a section of the Finance Bill, 2019 that requires lawyers to start reporting details of client transactions to the Financial Reporting Centre scrapped. ‘’The proposed law threaten to obliterate the Advocates Act, Chapter 16 of Laws of Kenya and pose a real threat to the very existence of the legal profession,’’ Ojienda said. The Proceeds of Crime and Anti-Money Laundering Act (Procamla) requires requires financial institutions to report any suspicious or unusual transaction to the FRC to identify and combat money laundering and financing of terrorism. Proposed changes as enshrined in the Finance Bill, 2019 will be attempting to change it for the fourth time. Ojienda however argues that investigative role lies squarely with the police and not lawyers as the proposed law insinuates.

Source: The Star June 19, 2019 01:52 UTC