Kuwait drafts new anti-money laundering law to close legal loopholes
Kuwait's interior minister says a new anti-money laundering law will introduce tougher measures to prevent offenders from escaping punishment.
Kuwait is drafting a new anti-money laundering law aimed at closing legal loopholes and ensuring those involved are held accountable, according to Fahad Al-Yousef, the country's First Deputy Prime Minister and Minister of Interior. The legislation will introduce stricter provisions and amendments to address money laundering, with anyone suspected of inflating their bank accounts unjustifiably to be summoned.
The Ministry of Interior's departments are actively monitoring and vigilant in identifying individuals suspected of involvement in money laundering through fictitious business activities, with ongoing legal measures taken against those suspected of money laundering or illicit gains.
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