Fatf: Kuwait Makes Early Progress in Enhancing Anti-Money Laundering Effectiveness

The Financial Action Task Force (FATF) announced that Kuwait has taken steps to improve its anti-money laundering and counter-terrorist financing framework ahead of the deadlines set in the agreed action plan.

In its report issued on October 30, the FATF noted that since February 2026, when Kuwait made a high-level political commitment to work with the FATF and the Middle East and North Africa Financial Action Task Force (MENAFATF) to enhance the effectiveness of its anti-money laundering and counter-terrorist financing system, it has taken steps to improve its framework ahead of schedule.

It pointed out that these steps included strengthening communication with real estate agents and dealers in precious metals and stones regarding the reporting of suspicious transactions, including the distribution of sector-specific indicators to help monitor money laundering and terrorist financing patterns.

The FATF urged Kuwait to continue implementing the action plan, particularly in two key areas: first, ensuring the accuracy of beneficial ownership information recorded in the register, and applying effective, proportionate, and dissuasive sanctions, where appropriate, in cases involving inaccurate information.

The second area involves increasing investigations and prosecutions of money laundering crimes related to cross-border movements of cash and bearer negotiable instruments.