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‘Dirty money’ eats nations Keep strict check on ‘nouveau riche’

MONEY-LAUNDERING is one of the most dangerous financial crimes spreading to the four corners of the earth. It has become an international trade with its own traders and many clients. The system of maneuvering and manipulating corrupt trade has since developed due to technological advancement and scientific techniques.
The dangers associated with this dirty trade against the global economy are enormous, as it plays a part in raising the level of inflation and suspicious financial operations despite the tremendous global efforts to curb the phenomenon, as it continues to spread amid countless supporters and clients. Corruption is considered the third largest commercial activity in the world after currency exchange and cars.I will talk about our beloved country Kuwait, which is just like any other country where suspicious deals of ‘dirty money’ have been reported. We also read and hear of many accidents but the efforts of securitymen have collided with lack of evidence and appropriate legislation!
Therefore, the MPs should approve a deterrent legislation that starts by redefining money laundering and ways to identify ‘dirty money’ to enable the concerned judicial authority adopt the appropriate legal decisions, as it is not reasonable rendering the diligent efforts put forth by securitymen useless due to lack of stern legislation reflecting the tremendous development in abilities of the judiciary, such as expertise.
The reader may ask about the traits of ‘dirty money’ which gangs and mafias launder worldwide through drug trade, embezzlement, bribe, illegal weapons trade, terrorism and other suspicious activities. The major players in these games are many; some of whom are known and many others unknown. I remember the American mafia, Asian mafia and Russian mafia, and of course, drug cartels in South America. Some governments may even pull off or facilitate the illegal transaction based on certain interests and political situations. 
Therefore, it is important for the concerned security systems to be cautious of some real estate sale or purchase operations, while monitoring the parvenu (newly rich people) and in particular, those whose commercial or financial history is unknown. These are some issues the securitymen should learn.
The adverse effect of ‘unclean money’ on the country’s economy may extend to the political field and jeopardize the entire country, as every politician deals with political issues and they have backdrop in the dirty trade. The country has internal or external experiences in that concern, which somehow may influences cases.
The person operating in this illegal field is not trustworthy, particularly the parvenu that suddenly becomes rich. Such individuals should be identified and monitored. Citizens should also be encouraged to expose them by reporting their activities. We entreat Allah the Almighty to protect our country from suspicious trade.
By Yousef Awadh Al-Azmi

By: Yousef Awadh Al-Azmi

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