Nazaha, Intelligence Unit Sign Information Exchange Mou

Kuwait Anti-Corruption Authority (Nazaha) signed Wednesday a memorandum of understanding (MoU) with Kuwait Financial Intelligence Unit (KWFIU) for cooperation and exchange of information over money laundering and terrorism financing crimes. Nazaha said in a statement the MoU was part of efforts by Nazaha and KUFIU to bring about integration of supervision endeavors to promote transparency and integrity in line with instructions of His Highness the Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah.

His Highness the Prime Minister, in a recent meeting with anti-corruption authorities, said this phase a “practical approach” by all authorities to crack down on corruption. Nazaha said the MoU, which entered force immediately after signing it, stipulated cooperation and exchange of information in investigations carried out by Nazaha and KUPIU on money laundering crimes.

Nazaha is mandated with receiving complaints about money laundering. KUPIU is tasked with receiving, requesting, analyzing and disseminating information concerning suspected proceeds of crime or funds related, linked to or to be used for money laundering or terrorism financing.

 

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