By Stephen Kioko Sustaining the Societal Impact of AML/CFT Effectiveness in Kenya’s Designated Non-Financial Business and Professions (DNFBPs) Sector.” Kenya’s journey to strengthen its anti-money laundering and counter-terrorism financing (AML/CFT) regime has been more than a decade in the making. Since the enactment of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) in 2009, the country has progressively strengthened its legal, regulatory, and institutional framework in line with international standards. The country’s placement on the Financial Action Task Force (FATF) grey list in 2024 did not mark the beginning of that journey; rather, it accelerated reforms and sharpened the national focus on addressing strategic deficiencies and demonstrating the effectiveness of Kenya’s AML/CFT framework. As Kenya looks forward to exiting the grey list, one question deserves equal attention: what happens after? The answer will determine whether the gains achieved over the years become lasting improvements or gradually lose momentum once international scrutiny subsides. Grey List Exit Is a Milestone—Not the Destination Exiting the FATF grey list would undoubtedly be a significant milestone. It would signal that Kenya has substantially addressed the strategic deficiencies identified in its AML/CFT framework and strengthened its ability to combat money laundering, terrorist financing, and proliferation financing. The anticipated benefits are equally significant, ranging from enhanced investor confidence and improved correspondent banking relationships to lower transaction costs and increased international credibility. Yet, the FATF process has never been about passing an assessment. Its ultimate objective is to determine whether countries have established systems capable of preventing, detecting, investigating, and disrupting financial crime on a sustained basis. History has shown that jurisdictions which relax enforcement once international monitoring ends often experience declining compliance standards, weaker reporting, and reduced effectiveness. Kenya’s success, therefore, will not be defined solely by its exit from the grey list, but by its ability to sustain an