•  Provided additional clarity on reporting obligations under POCAMLA including the issuance of guidelines on large transactions in January 2016, intended to provide a clear trail of large cash transactions conducted over the counter in banks. •  Enhanced AML/CFT on-site inspections. CBK is currently developing a risk based AML/CFT supervisory framework with assistance from the International Monetary Fund (IMF).
•  Required greater transparency on the part of banks to ensure public confidence. Transparency extends to disclosures by banks on their corporate governance and risk management structures. In this regard, CBK has enhanced the disclosures by banks on their significant shareholders. Banks are now required to disclose on their websites details of significant shareholders who own 5percentor more shareholding.