Kenyan banks have been urged to employ latest technology to fight money laundering.

Speaking ahead of an Anti-money laundering conference scheduled for Thursday in Nairobi, Infrasoft Technologies Limited Managing Director, Hanuman Tripathi said human labour alone cannot detect the many often-veiled suspicious transactions in banks.

Over 70 bank officials in Kenya will participate at the conference to discuss the latest anti-money laundering technologies to employ in curbing the vice as well as share experiences and expertise.

Money laundering is a process in which the origin of funds generated by illegal means such as drug trafficking, gun smuggling, terrorism and corruption is concealed.

This has to be one of the most exciting developments for Kenya in regards to developing world-class mobile software services and products! Earlier today, Nokia Research Centre Africa (NRC-Africa) and the University of Nairobi’s School of Computing & Informatics (SCI) jointly launched a Research and Sub-contracting Lab as well as a Usability Lab at the Chiromo Campus.

This exciting initiative is the culmination of a strategic partnership between NRC-Africa and SCI which has been facilitated through funding from Nokia to build student capacity at SCI, through the SUCA project. This has also included the training of two SCI staff members in Finland on software sub-contracting management including ICT project management.