Kuwait imposes 155,000 dinars in fines for anti-money laundering violations
The Ministry of Commerce and Industry has imposed fines totaling KD 155,000 on entities for violating Law No. 106 of 2013 on combating money laundering, as well as related ministerial decisions, the ministry said on Tuesday.
In a statement to KUNA, the ministry said the violations were identified between January and August 2026 under Ministerial Decision No. 25 of 2026, which sets out penalties and measures for designated non-financial businesses and professions.
The violations included four cases involving real estate brokerage firms that failed to notify the Kuwait Financial Intelligence Unit within two working days of suspicious transaction indicators, resulting in fines totaling KD 20,000.
A further KD 135,000 in fines was imposed on 27 establishments operating in the gold, precious stones and precious metals trade for similar reporting violations, at KD 5,000 per violation.
The ministry affirmed that it would continue monitoring compliance with anti-money laundering regulations and taking the necessary legal action against violators to safeguard the integrity of financial and commercial transactions.
— KUNA
