Kuwait Takes Action against Money Launderers Linked to Terrorism
The Kuwaiti Ministry of Commerce and Industry said on Saturday its department of combating money laundering and funding of terrorism took action against companies in September.
The ministry said in a press release that the 56 measures included warning notifications to 17 real-estate companies, four jewelry companies, two money exchange agencies and one dealing in insurance, reported the Kuwait news agency (KUNA).
Nineteen real-estate companies, four jewelry firms, five money exchange companies and four insurance firms were compelled to comply with the relevant laws.
The division completed certain measures before other units at the ministry issued permits to 112 applicants for launching enterprise, including 80 property companies, one exchange agency, 26 jewelry companies and five insurance firms.