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Kuwait: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 268
Language:
English
Publication Date:
01 Sep 2011
DOI:
https://doi.org/10.5089/9781463902322.002
ISBN:
9781463902322
ISSN:
1934-7685
Pages:
249
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund