Tag: money laundering
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Kuwait warns public over phone and SIM resale cash schemes
Kuwait's Ministry of Interior has warned the public against buying or reselling SIM cards and phones through schemes that may be fronts for money laundering, with discounts of up to 40 percent used to hide illegal cash transfers. Read more →
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Two Travellers Hiding $1.67 Million in Cash at Airport
Thai customs officers arrested two foreign passengers at Suvarnabhumi Airport after finding more than $1.67 million in concealed US dollar banknotes – a case that's a good reminder of how seriously countries, including Kuwait, treat undeclared cash. Read more →
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Kuwait court jails 8 expats.
Kuwait's State Security and Terrorism Crimes Court has jailed eight expatriates for 10 years and ordered KD 27 million in fines over money laundering, forgery and unlicensed banking. Read more →
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Kuwait’s New Salary System
The Central Bank of Kuwait has rolled out a new system to monitor private-sector salary payments, part of a bigger push to get off the FATF grey list. Read more →