MPs pocketed Ksh10 Million to pass Anti-Money Laundering Bill, President Ruto says

President William Ruto has accused a group of MPs of pocketing Ksh10 million to pass the Anti-Money Laundering Bill, a law with far-reaching consequences for financial regulation in Kenya.

The President who was speaking on Monday during the ODM and Kenya Kwanza talks held in Karen, Nairobi issued a stern warning to the lawmakers who he said are abusing their positions.

He issued a stern warning to law makers and the givers of the bribe.

“We are not going to shame them, we are going to arrest them, whoever is giving and whoever is being given, we shall sort them out. Do you, for example, know that a few members of your committee collected Ksh10 million so that you can pass the law on anti-money laundering? Did you get the money?” Ruto said.

The head of state said there are a handful of individuals who are tarnishing Parliament’s credibility by collecting money using Parliament’s name, noting that the money mostly ends up with the few individuals.

The Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025 was assented into law on June 2025.

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The legislation was designed to strengthen Kenya’s framework for tackling money laundering, terrorism financing, and proliferation financing.

Its enactment represented a decisive step in bolstering the country’s financial system against illicit financial flows.

The amended law sealed long-standing loopholes that have enabled the misuse of property transactions and shell companies for illegal financial activities.

Initially passed on April 16, 2025, the Bill was returned to Parliament by President Ruto with reservations.

It was passed a second time by the National Assembly on June 3, 2025, with amendments that fully addressed the President’s concerns.

This legislation sought to align the country laws with these global benchmarks on anti-money laundering, counter-terrorism financing, and proliferation financing.

The Bill amended the Sacco Societies Act (Cap. 490B) by empowering the Sacco Societies Regulatory Authority to regulate and supervise bodies under its purview for anti- money laundering, counter financing of terrorism and counter proliferation financing.

By Obegi Malack

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