CBK warns Kenyans on fraudulent forex dealers
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 www.centralbank.go.ke or Capital Markets Authority CMA website www.cma.or.ke.
Confirm the licensing status of forex dealers from the CBK website on https://t.co/PV5VavvoeK and/or CMA website on https://t.co/JPs6Yii5W8 pic.twitter.com/qnSkRe6UYc
— Central Bank of Kenya (@CBKKenya) August 16, 2019
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.