Kuwait makes early progress in strengthening anti-money laundering measures
- Measures include improving communication with real estate agents and traders in precious metals and stones to encourage the reporting of suspicious transactions
- First involves ensuring that information about the actual owners of companies and other legal entities is accurate and properly recorded in the official beneficial ownership register
Kuwait has made progress ahead of schedule in implementing measures to strengthen its system for combating money laundering and terrorist financing, according to the Financial Action Task Force (FATF).
In a report issued on October 30, FATF said Kuwait had taken steps to improve the effectiveness of its anti-money laundering and counter-terrorism financing framework since making a high-level political commitment in February 2026 to work with FATF and the Middle East and North Africa Financial Action Task Force (MENAFATF).
The measures include improving communication with real estate agents and traders in precious metals and stones to encourage the reporting of suspicious transactions. The authorities have also distributed sector-specific indicators to help businesses identify and monitor possible money laundering and terrorist financing activities.
However, FATF called on Kuwait to continue implementing its agreed action plan, highlighting two areas that require further attention.
The first involves ensuring that information about the actual owners of companies and other legal entities is accurate and properly recorded in the official beneficial ownership register. FATF also called for effective and proportionate penalties to be imposed, where appropriate, when incorrect information is provided.
The second priority is to strengthen investigations and prosecutions of money laundering cases involving the movement of cash and negotiable financial instruments across national borders.
