{"id":35426,"date":"2020-02-16T16:09:45","date_gmt":"2020-02-16T13:09:45","guid":{"rendered":"http:\/\/192.163.207.100\/~timesku1\/news\/?p=35426"},"modified":"2020-02-16T16:09:45","modified_gmt":"2020-02-16T13:09:45","slug":"anti-money-laundering-department-issues-penalties-against-offending-companies","status":"publish","type":"post","link":"https:\/\/timeskuwait.com\/news\/anti-money-laundering-department-issues-penalties-against-offending-companies\/","title":{"rendered":"Anti money laundering department issues penalties against offending companies"},"content":{"rendered":"<p>The Ministry of Commerce and industry (MoCI) announced on Sunday that its department tasked with (combating) money laundering and terrorism funding issued last year up to 1,001 &#8220;precautionary measures&#8221; against offending companies that violated Law 106\/2013.<\/p>\n<p>The ministry said in a press release that the measures included addressing written warnings to 200 realty companies, 77 jewelry companies, 37 money exchangers and 13 insurance companies. They were instructed to abide by the relevant laws.<\/p>\n<p>The department for fighting money laundering completed its measures before the ministry department finalized permits&#8217; paper work for 656 applications for establishing companies during the past year \u2014 including 483 realty companies, 151 jewelery trading firms, 13 insurance ones and nine money exchange companies. Three realty companies and four money exchanges ones received suspensions.\u00a0 It also recommended that 18 companies must stop operating including six property, eight money exchangers and four jewelry companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Commerce and industry (MoCI) announced on Sunday that its department tasked with (combating) money laundering and terrorism funding issued last year up to 1,001 &#8220;precautionary measures&#8221; against offending companies that violated Law 106\/2013. The ministry said in a press release that the measures included addressing written warnings to 200 realty companies, 77 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,18],"tags":[],"class_list":["post-35426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-local"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Anti money laundering department issues penalties against offending companies - TimesKuwait<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timeskuwait.com\/news\/anti-money-laundering-department-issues-penalties-against-offending-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anti money laundering department issues penalties against offending companies - TimesKuwait\" \/>\n<meta property=\"og:description\" content=\"The Ministry of Commerce and industry (MoCI) announced on Sunday that its department tasked with (combating) money laundering and terrorism funding issued last year up to 1,001 &#8220;precautionary measures&#8221; against offending companies that violated Law 106\/2013. 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