The Ministry of Commerce organizes an awareness workshop for compliance monitors in the jewelry and metals sector on money laundering risk indicators

Kuwait City, 1 September (KUNA) -- The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Department at the Ministry of Commerce and Industry organized a workshop titled “Clarifying Risk Indicators in the Jewelry and Precious Metals Sector,” targeting compliance officers from companies and institutions within the sector. The event was held at the Kuwait Chamber of Commerce and Industry, with more than 400 participants attending.

In a statement to the Kuwait News Agency (KUNA) on Tuesday, the Ministry said the workshop was part of ongoing efforts by the AML/CFT Department to raise awareness, strengthen the culture of compliance among stakeholders and specialists, and keep pace with developments in the field of combating money laundering and the financing of terrorism.

The workshop covered several topics related to money laundering and terrorist financing risk indicators in the jewelry and precious metals sector, as well as methodologies for handling risk indicators, with a focus on key red flags and suspicious behaviors in this field.

It also presented examples of money laundering pathways in the real estate sector and discussed practical cases to help identify suspicious indicators, while clarifying the mechanism for preparing suspicious transaction reports and reporting suspicious activities. (End) A.A.M. / K.D.A.