(Nizahat): Kuwait showcases its experience in enhancing institutional cooperation for asset recovery in Vienna

Kuwait City, 3 November (KUNA) – The State of Kuwait, represented by the Public Authority for Combating Corruption (Nazaha), participated in the 20th session of the Intergovernmental Working Group on Asset Recovery, held in Vienna as part of the meetings of the working groups of the United Nations Convention against Corruption (UNCAC).

In a press statement issued on Tuesday, Nazaha said that Fatima Al-Balushi, the Money Recovery and Whistleblower Protection Observer at Nazaha, emphasized in her remarks the importance of financial investigations, institutional cooperation, and information exchange in supporting these efforts. She outlined Kuwait’s efforts to strengthen its anti-corruption framework, track illicit proceeds, and recover assets.

Al-Balushi highlighted the cooperation between Nazaha and the Kuwait Financial Intelligence Unit, as well as the development of automated linkages with national law enforcement agencies. She also pointed to the role of the financial disclosure system in detecting unjustified increases in wealth and supporting related investigations.

She noted Nazaha’s participation in the National Committee for Combating Money Laundering and the Financing of Terrorism, and its work on preparing the upcoming national strategy to enhance integrity and combat corruption, thereby strengthening the integration of efforts to prevent corruption, combat money laundering, and track illicit proceeds.

Al-Balushi stressed the importance of building capacities in financial analysis, tracing financial flows, and identifying beneficial owners, as well as enhancing international cooperation in asset recovery. She reaffirmed Kuwait’s commitment to the provisions of UNCAC and its continued efforts to develop its national system for protecting resources and consolidating public trust in institutions. (End)