Kuwait, EU ‘join hands’ to fight money laundering and terrorist financing

A Kuwaiti delegation led by the Chairman of the National Committee for Combating Money Laundering and Terrorist Financing, Dr. Hamad Al-Makrad, held talks with senior officials at the European Commission on Friday to enhance joint efforts in countering money laundering and terrorist financing.

The delegation also included Ambassador Hamad Al-Mashaan, Chairman of the Committee for Implementing Security Council Resolutions and member of the National Committee.

In a statement to the Kuwait News Agency (KUNA), the Kuwaiti Embassy in Brussels said the meeting took place with John Breggan, Director-General for Financial Stability, Financial Services and the Capital Markets Union at the European Commission.

The discussions covered several shared priorities, including a review of existing cooperation mechanisms and ways to expand them.

Both sides explored new opportunities for exchanging expertise, particularly within the framework of Financial Action Task Force (FATF) standards, and emphasized the importance of enhancing joint action to safeguard the financial sector.

According to the statement, the two parties stressed the need for continued coordination and intensified efforts to strengthen regulatory efficiency and uphold international requirements related to combating money laundering and terrorist financing.