Kuwait money laundering team warns 23 real estate companies
Written warnings issued by commerce ministry's laundering and counterterrorism department to 23 property firms
Kuwait’s Ministry of Commerce and Industry has issued 116 precautionary measures against violating companies through its department of anti-money laundering and counterterrorism, with 23 real estate companies notified through written warnings.
Additionally, three money exchange firms, 11 jewellery companies, and two insurance outfits were also given written warnings.
Another two real estate firms, in addition to one money exchange and two insurance firms, were asked to provide the ministry reports about unspecified topics, according to Kuwait’s official news agency, Kuna.
The ministry had issued an order to 47 real estate, six money exchange, and 18 insurance companies in July 2018, asking them to abide by Law 106/2013, the Kuna report added.