KRA proposes new law to track real-time gambling activities

KRA proposes new law to track real-time gambling activities

Posted by: AffPapa

The Kenya Revenue Authority (KRA) and State agencies in collaboration with the National Intelligence Service (NIS) have proposed a brand new law that will help moderate and track gambling activities in real-time.

The new amendment has been supported on behalf of the state and will create a platform that will allow agencies to control and keep up with gambling activities from users that utilize the sites on suspicious money laundering and dirty inflow of money activities. 

The government is imposing this change in light of some concerns surrounding the fact that “betting firms are offering services where proceeds of crime and corruption is covered up without any confirmation from the KRA and the Betting Control and Licensing Board.”

Once executed, the amendment will allow security agencies and Financial Reporting Centres (FRC) to track illegal money activities and bets directly once they are placed. 

The Bill read: “The Board [Gaming Board] shall establish a framework to facilitate real-time monitoring of online gaming activities which shall be accessible for monitoring by the Communications Authority of Kenya, the board and any relevant government agencies.”

The newly-proposed amendment will be “targeting users that deal with large transactions but place bets in small fractions”, hence gamblers who place small regular bets will also be under suspicion by the government.

Kenya has a history of suspicious business deals within the government officials who use the money to purchase lavish estates and luxury cars. The country is known for the inflow of dirty money majorly from criminal activities.

In light of these events, the Kenyan Parliament decided to change the betting bill focused on empowering CS Fred Matiangi, debunked the move to freeze the CS accounts and that of other gamblers that require proof of the source of cash in their accounts before being able to access their money.

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