Nairobi News


CBK warns Kenyans on fraudulent forex dealers

By Amina Wako August 17th, 2019 1 min read

The Central Bank of Kenya has on Friday warned Kenyans against unlicensed and unregulated online foreign exchange dealers and platforms.

CBK told Kenyans to only deal with genuine and licensed financial institutions and entities.

The public can confirm the genuineness from CBK website or Capital Markets Authority CMA website

CBK warned that the fraudulent forex bureaus purport to offer the best deals in the market and do not have anti- money laundering and consumer protection safeguards.

They lack the requisite licenses from CBK or Capital Market Authority.

In case of any complaints regarding unlicensed forex dealers can be forwarded to the CBK’s Banking Fraud Investigations Unit.