Kuwaiti Electronic Network To Combat Money Laundering

20 September 2021 Kuwait

A report by the Financial Intelligence Unit (FIU) stated Kuwait exchanged information 74 times with foreign countries on suspicions of money laundering and terrorist financing within the framework of international cooperation from April 1, 2019 until the end of March 2020.

The Al-Rai daily said the FIU intends to establish its own electronic link network to enhance connectivity with the notified parties, through which data and notifications will be transferred quickly and securely, as part of the Unit’s continuous endeavor to enhance the financial analysis management work system, by installing and supporting the goAML system designed to help countries combat financial crimes, including money laundering and terrorist financing.

 

 

SOURCE  TIMESKUWAIT

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