22000 Kuwait Dinar caught at Kuwait Airport
22000 Kuwait Dinar caught at Kuwait Airport
With the cooperation between ministry of interior and General Administration of Customs, a man (Arab national) was caught smuggling 22 thousand Kuwaiti dinars while leaving the country. The arab national was arrested and turned in for investigation for breaking the law of money laundering.
What is Money Laundering?
Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source.
The processes by which criminally derived property may be laundered are extensive. Though criminal money may be successfully laundered without the assistance of the financial sector, the reality is that hundreds of billions of dollars of criminally derived money is laundered through financial institutions, annually. The nature of the services and products offered by the financial services industry (namely managing, controlling and possessing money and property belonging to others) means that it is vulnerable to abuse by money launderers.
Kuwait News
- Events in Kuwait
- Principal receives salary 36000 KD from US and Kuwait
- New rule for transfer of expat workers visa
- Five tickets will be issued, if driving with open door
- Professor shows indecent video to students
- Steps taken to deport expat inmates
- Ministry of Education sets exam and vacation dates
- Kuwait ranks 33rd in ‘World Giving Index’
- Ethiopian maid found dead
- PACI opened new branch to collect the Civil IDs
- An Arab woman arrested
- Data of 1,800,000 Expats and Kuwaitis in 200 Kuwaiti Dinars
- Baby abandoned in front of a building
- KD 1,800 annual fees for private nurseries
- Kuwait and India discussed the Indian Engineers issues in Kuwait
- Police Officer Kidnapped
- New Heavy fines and New License Fees proposal
- Arrested a Kuwaiti woman for stealing a car
- Fake currency in Ahmadi
- Son stabs mother and throws her out of the house
- Woman arrested for swindling Kuwaitis and Expats
Filed in: All • Expats in Kuwait • Local News