Kuwait’s Anti-Money Laundering and Counter-Terrorist Financing Infrastructure: A New Study Reveals Progress and Challenges

This article provides an insightful evaluation of Kuwait’s anti-money laundering (AML) and counter-terrorist financing (CTF) infrastructure based on a recent research paper published in the Journal of Money Laundering Control.

Kuwait’s Economic Significance and Importance

locator_caption: Kuwait’s Economic Significance

• Country with over $110 billion economy
• 9% of the world’s oil reserves
• Plays a crucial role in global energy trade
• Proximity to Iraq and mediator in Gulf Cooperation Council

Legal and Regulatory Framework in Kuwait

Significant Progress in Implementing Recommendations

• Recommendations from FATF before 2014
• Implementing legislative and regulatory mechanisms

Strategic Deficiencies

• Internal reporting and external publishing administration

Enforcement Mechanism and Government Steps

• Improvement in enforcement mechanism
• Steps to create a framework parallel to international standards
• Delays in activation and implementation of some regulatory procedures

Comprehensive Analysis and Performance Evaluation

The research paper, titled “The State of Kuwait’s anti-money laundering & counter-terrorist financing infrastructure and performance evaluation”, provides an in-depth analysis of the following aspects of Kuwait’s AML/CTF infrastructure:

1. Legislation
2. Regulation
3. Implementation
4. Internal performance against international standards

This comprehensive analysis is vital due to Kuwait’s significant economic significance and its role in regional stability in the Middle East and Arabian Gulf region.

You can access the complete paper on the Emerald Insight platform.