Financial Investigations Department Signs Contract with Consultant

Kuwait officials: The Financial Investigations Unit is set to contract a consulting firm to provide advisory services during the follow-up process conducted by the Financial Action Task Force (FATF) and the International Cooperation Review Team for the State of Kuwait.

The Central Tenders Board has approved the contract with K2 Integrity for a period of 24 months, with a total amount of approximately $5.4 million, equivalent to 1.66 million Kuwaiti dinars. K2 Integrity is a global American company specializing in risk management, compliance, financial investigations, and combating financial crimes, with its headquarters located in New York.

Key areas of its work include anti-money laundering and counter-terrorist financing (AML/CFT), compliance with international sanctions, Know Your Customer (KYC) and due diligence, investigations into fraud, corruption, and financial crimes, forensic accounting and asset tracing, assessment of compliance and risk systems at banks and companies, cybersecurity and artificial intelligence risks, investigations related to corporations, investments, and cross-border transactions, and providing independent monitoring services as may be required by regulatory authorities.