News / Kuwait Cracks Down on Money Laundering with Citizenship Revocations
Kuwait Cracks Down on Money Laundering with Citizenship Revocations
Kuwait withdrew the citizenship of a man involved in money laundering, citing the need to serve the state's interest and external security to combat fraud.
03 min read
A man found guilty of involvement in “money laundering and real estate fraud” has had his “Kuwaiti citizenship revoked” as part of the country’s latest program to take away nationality from hundreds of individuals for various reasons. This action is part of Kuwait’s intensified efforts to combat money laundering.
According to the “Al Qabas,” a newspaper of Kuwait, a formal decree has been issued to revoke Kuwaiti nationality from the guilty individuals for the purpose of “serving the state’s interest and external security.”
The newspaper didn’t further explain the case.
The order states that his family member who had previously acquired “Kuwaiti citizenship” will also be affected and will lose it.
The government of Kuwait has adopted changes in the law recently for approval of citizenship to foreigners and made stricter rules for it.
The nationality of “198 individuals” has been revoked by the approval of a government citizenship verification committee this week.
The next step is submitting the decision to the “Council of Ministers.” Details are not disclosed yet about cases.
Read Also:
- Major Changes to New Zealand’s AML/CFT Framework
- Australia’s AML/CFT Law Tranche 2 Expanding Compliance Requirement
- UK OPBAS Report Highlights Areas for Improvement in AML Supervision Among Legal and Accountancy Sector
Kuwait’s population covers “4.9 million”, with the majority being foreigners. The authorities started to crack down on “citizenship fraud” a few months ago.
As per the media sources, the country has taken back citizenship from “hundreds of people” since the start of March based on involving in fraud or holding dual nationality. Dual nationality is now strictly prohibited in Kuwait.
The Interior Ministry of Kuwait has established a hotline to obtain “reports about citizenship holders” who granted citizenship using fake documents.
As reported by media sources, the public is encouraged to deliver information about people who have committed fraud or have dual nationality using a hotline by the “ministry’s General Directorate of Nationality and Travel Documents.”
Confidentiality is promised to the public who will disclose information, say authorities.
AML Watcher offers real-time AML screening solutions that help institutions proactively manage risks through comprehensive PEP screening, global Watchlist screening, and local and international adverse media screening, all backed by data from over 100,000 sources across 235+ countries. This detailed screening with broader coverage empowers institutions to detect risk swiftly and ensure AML compliance with evolving regulations.
Contact us to learn more about our products and explore how they ensure maximum AML compliance and protect your business.
Book Free Demo- Watchlist
- November 5, 2024
- 05 min read
- Others
- October 31, 2024
- 06 min read
- Others
- October 30, 2024
- 06 min read
Subscribe to our Newsletter
Our best articles, news and stories, delivered to your inbox every week.