Kuwait: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2011/268, IMF Staff Country Reports from International Monetary Fund

Abstract: In this study, the general situation of money laundering and financing of terrorism is discussed. In addition, the followings are overviewed: financial sector, DNFBP sector, commercial laws and mechanisms governing legal persons, and strategy to prevent money laundering and terrorist financing. A legal framework and criminalization of financing of terrorism are also given. Confiscation, freezing, and seizing are explained under the legal framework. Various preventive measures used are also discussed in this paper. Financial institution secrecy and confidentiality are also outlined.

Keywords: ISCR; CR; exchange company; AML law; exchange organization; brokerage company; financial market; Anti-money laundering and combating the financing of terrorism (AML/CFT); Insurance companies; Legal support in revenue administration; Brokers and dealers; Money laundering; Middle East; North Africa; East Africa (search for similar items in EconPapers)
Pages: 249
Date: 2011-09-01
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