Financial Reporting Centre advertises DG post

The National Treasury has begun the search for director general to head the financial reporting center five years after it was established. The move comes as part of efforts to strengthen the fight against corruption, which has been a thorny issue for the current administration. The Financial Reporting Center (FRC) was established to gather and ensure compliance with anti money laundering, proceeds of crime and suspicious transaction laws. Financial crimes have become a growing concern for the government given the emergence of mega scams especially with big-ticket government projects. The director general will also become the chairman of the Anti Money Laundering Board. “The director general will utilize data analysis systems and methodologies to support monitoring and evaluation of information received from reporting institutions,” reads an advertisement for the post in the dailies. In the 2017/2018 budget, the Financial Reporting Centre was allocated Sh300 million to set up its operations. The FRC is expected to work with various financial institutions to flag suspicious transactions and investigate the source of funds and build cases against those who may have acquired money illegally.

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