Global firms block Kenya cash transfers in dirty money fears
Nairobi, Aug. 18 -- Two more global cross-border payment platforms have stopped receiving and sending cash to Kenya amid increased anti-money laundering scrutiny across nations.
US firm Sendwave and UK-based money transfer firm Wise have stopped cash transfer services for the majority of Kenyan users from August, with the American firm citing technical difficulties.
They join cash and cryptocurrency transfer firm Hurupay, which froze Kenya operations. US payments giant PayPal last month suspended services for a section of Kenyan users.
Kenya has been under increased scrutiny for illicit cash flows and is on the list of countries at high risk of money laundering and terrorist financing, with the Financial Action Task Force (FATF) placin...
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