All Casinos and Forex bureaus in the country have been directed to register with the Financial Reporting Centre.
This is in compliance with the Crime and Anti-money Laundering Bill signed by President William Ruto last week.
Also required to register are all Saccos regulated by the Saccos Societies Regulatory Authority (Sasra), accounting firms, real estate agencies and life insurance brokers.
The FRC Director General Saitoti Maika in a notice said the institutions have until September 15 to do so failure to which action will be taken against them.
The FRC is established under section 21 of the Proceeds of Crime and Anti-Money Laundering Act 2009 (POCAMLA) with the principal objective of assisting in the identification of proceeds of crime and the combating of money laundering and terrorism financing.
"All reporting institutions are required to comply with the obligations of the POCAMLA among others registration with the centre in accordance with Section 47A of the POCAMLA," Maika said.
"Take note that failure to register with the FRC constitutes an offence pursuant to Section 47A(5) of POCAMLA and the centre will proceed to take action."
Maika said the action will include issuing administrative and/or civil penalties, issuance of an order to a supervisory body and other relevant authorities requesting the suspension or revocation of licenses, registration or permits for those who fail to comply.
The registration will be done online via goAML platform while the guidelines to that effect can be accessed on the FRC website.
Ruto on Friday assented to the Anti-Money Laundering and Combatting of Terrorism Financing Laws (Amendment) Bill, 2023, and the Climate Change (Amendment) Bill.
The signing of the Bills into law was done at State House Nairobi.
The Anti-Money Laundering and Combatting of Terrorism Financing Laws (Amendment) Bill, 2023 was passed by the National Assembly on August 23.
It sought to amend at least 18 Acts of Parliament relating to anti-money laundering, countering the financing of terrorism and countering the financing of proliferation of weapons of mass destruction in addressing deficiencies identified during the Mutual Evaluation of Kenya.