City lawyer warns Parliament of legal battle over Money laundering bill

Lawyer and Advocate of the high court Peter Wanyama has told Parliament to anticipate a mouth watering legal duel in court over a bid to amend the proposed legislation to seal loopholes exploited by firms and individuals to launder money or make suspicious transactions.

Both lawyers outside Parliament and those serving as legislators of the August house once again failed to stop Parliament from enacting a Bill that will compel them to start disclosing suspicious financial deals involving their clients.

Although the Proceeds of Crime and Anti-Money Laundering (Amendment) Bill, 2021 sponsored by National Assembly Majority Leader Amos Kimunya sailed through at the second reading ,Wanyama has questioned the constitutionality of the Bill and faulted the inclusion of lawyers as reporting persons, arguing that it exposes their confidentiality with clients.

“Pairliament, we meet in Court.Remember, I have never lost against Parliament” he remarked.

MPs Otiende Amollo (Rarieda), George Murugara (Tharaka), Aden Duale (Garissa Township) Patrick Musimba (Kibwezi West) raised preliminary objections seeking temporary Speaker Christopher Omulele’s (Luanda) ruling on the matter before, the mover proceeds.

But those in support, led by Mr Kimunya (Kipipiri) and the Finance and Planning committee chair Gladys Wanga (Homa Bay County) maintained that the Bill will enhance vigilance in the financial sector and seal loopholes used by money launderers.

As the Managing Partner of Manyonge Wanyama & Associates (MWA Advocates),Peter Wanyama is one of the few in the profession who have grown and achieved notoriety as leading lawyers in Kenya the hard way.

He boasts of a decent track record and stellar reputation in successfully handling complex, sensitive and high voltage cases and well-deserved admiration of peers and clients for being “uncommon lawyer” throughout his 15 years in legal practice.

The changes will give the Central Bank’s Financial Reporting Centre powers to seize suspect property and freeze transactions for five days before investigations without requiring a court order.

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