The Insurance Regulatory Authority (IRA) in Kenya has issued new guidelines requiring insurance companies to conduct frequent audits of their high-risk clients and operations to strengthen anti-money laundering (AML) measures.

• These independent reviews will focus on high-risk areas such as customers, products, and distribution channels.
• The audits, which can be outsourced or conducted internally by independent staff, aim to assess the adequacy and effectiveness of the insurer's AML program.
• The guidance aligns with recommendations from the Financial Action Task Force (FATF) and emphasizes a risk-based approach for reviews, with higher-risk areas audited more frequently.