Kuwait Times, 20 July 2025: The Kuwait Interior Ministry Department for combatting money laundering and terrorist financing and the customs office have signed a memorandum of understanding to enhance cooperation on the fight against financial crimes.

The two departments will increase mutual operation and sharing of information in line with international standards set by the UN Financial Action Task Force (FATF). The MOU also aims to intensify regulatory procedures to support the national system for reducing financial crime. In addition, the Kuwait Capital Markets Authority (CMA) and the Financial Intelligence Unit (FIU) have also signed a separate MOU on cooperation and information exchange on money laundering. This will impact the scope of information the FIU and CMA can provide to each other.

Amendments to Kuwait Law No. 106/2013 (the money laundering law) in June 2025 now allow the Kuwaiti Cabinet to issue decisions to implement resolutions passed by the UN Security Council on financing terrorism and freezing assets, and to impose hefty fines on violators. In a report in June 2025, FATF had stated gaps in the legal system in Kuwait did make it difficult to free assets in these situations.

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