This news has been read 22 times! KUWAIT CITY, June 30: The Financial Action Task Force (FATF) has identified significant areas for improvement in Kuwait’s efforts to combat money laundering and terrorist financing. The international body emphasized the need for Kuwait to better understand the risks associated with these crimes, enhance its investigative and prosecutorial capabilities, and ensure the immediate freezing of assets linked to terrorist financing or the financing of weapons of mass destruction. These findings were highlighted during FATF’s sixth and final general session, which concluded yesterday.
Observers noted that the current deficiencies place Kuwait under enhanced monitoring for such crimes. FATF stressed the importance of preventing the misuse of legal entities and implementing measures to protect the non-profit sector from being exploited for terrorist financing. The FATF, which encompasses over 200 jurisdictions and international organization observers, acknowledged Kuwait’s existing legal and supervisory framework as appropriate for addressing money laundering and terrorist financing.
However, it also pointed out several shortcomings in the country’s evaluations. Dr. Mohammed Bouzbar, a Professor of Criminal Law at the Faculty of Law at Kuwait University, commented on the FATF’s recommendations to Al-Jarida.
He explained that enhanced monitoring is a process used by FATF to oversee countries with strategic deficiencies in their systems for com.
