Several international payment platforms have restricted or suspended services for customers in Kenya in recent weeks, as the country continues to face heightened scrutiny over money laundering and terrorism financing risks.
US firm Sendwave and UK based Wise have stopped cash transfer services for the majority of Kenyan users since August, with Sendwave citing “technical difficulties.” Wise told at least one affected user that their account would be restricted and closed by October 3, and did not disclose a reason for the suspension.
The two firms join Hurupay, a cash and cryptocurrency transfer service, which froze its Kenya operations in July, and PayPal, which suspended services for a section of Kenyan users the previous month. Hurupay told users it no longer supports USD banking services for customers in Kenya and that payments sent to affected accounts would be automatically refunded to the sender. Some users have also reported difficulties with employment and residence verification requirements tied to PayPal account restrictions.
The restrictions coincide with Kenya’s continued presence on a global watchlist for financial crime. The Financial Action Task Force placed Kenya on its list of jurisdictions under increased monitoring, commonly called the grey list, in February 2024, and retained the designation following a June 2026 review. FATF has stated that increased monitoring does not call for enhanced due diligence and that its standards do not envisage financial institutions cutting off entire classes of customers, though grey-listing can raise compliance costs and risk perceptions for institutions dealing with affected jurisdictions.
The restrictions also followed a Kenyan court case in July in which Sendwave was cited as one of several platforms allegedly used to transfer funds from the US in a KES300 million ($2.3 million) money laundering investigation, though there was no suggestion Sendwave itself was accused of wrongdoing.
The developments follow an earlier exit by Bonto Kenya Money Transfer Limited, whose license was revoked by the Central Bank of Kenya in September 2025 after the firm cited financial and regulatory pressures for suspending operations. Kenya recorded $5.77 billion in remittance inflows in 2024, a market served by major global players including Western Union, MoneyGram, WorldRemit, Xoom, Azimo, Sendwave and Skrill.
Neither Wise nor Hurupay has publicly detailed the specific reasons behind their decisions, and none of the firms has indicated whether the restrictions are temporary or permanent.
