Ministry of Commerce imposes fines of 155,000 dinars on several entities for violating anti-money laundering and counter-terrorism financing laws

The Ministry of Commerce and Industry announced on Tuesday the imposition of financial fines totaling 155,000 Kuwaiti dinars on several entities for violating the provisions of Law No. 106 of 2013 concerning the combating of money laundering and the financing of terrorism, as well as related ministerial decisions.

The ministry stated in a press release that the fines were imposed on cases suspected during the period from January to August last year, based on Ministerial Decision No. 25 of 2026 concerning the rules and procedures of the matrix of violations and measures for specified non-financial businesses and professions in relation to combating money laundering and the financing of terrorism.

It added that the violations included real estate brokerage activities due to the failure to notify the Kuwait Financial Intelligence Unit within two working days when there were suspicious indicators in a transaction, resulting in a fine of 5,000 dinars per violation, totaling 20,000 dinars for four violations.

The ministry clarified that the violations also included gold, gemstones, and precious metals trading activities due to the failure to notify the Kuwait Financial Intelligence Unit within two working days when there were suspicious indicators in a transaction, resulting in a fine of 5,000 dinars per violation imposed on 27 establishments engaged in jewelry and precious metals activities, totaling 135,000 dinars.