Monday , December 18 2017

Tag Archives: money laundering

Money Laundering network busted

KUWAIT CITY, Nov 7: Ministry of Interior busted a money laundering network of a Bedoun and two Kuwaiti brothers after intensive investigation proved the suspects were actually involved in suspicious deals, which included procuring and reselling of vehicles in large numbers, reports Al-Qabas daily. A security source said one of …

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Gang of money-launderers in court

KUWAIT CITY, Nov 7: The Criminal Court adjourned a case involving a citizen, his wife, a Bahraini national, a Jordanian and three Lebanese nationals accused of swindling and money laundering in connection with a real estate they sold for KD 72 million abroad. The lawsuit was postponed to Dec 11 …

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Detention of 6 accused of funding DAESH extended

KUWAIT CITY, Oct 24: Detention Renewal Judge has decided to extend the detention of five Syrians and one Iraqi, who are accused of financing terrorism and sending money to DAESH in Syria, for 15 days to complete the investigations. The Public Prosecution charged them with money laundering and sending large …

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International money launderers arrested

KUWAIT CITY: Two members of an international money laundering and fraud network have been arrested by specialized unit from the Interior Ministry, says Al- Seyassah daily. Public Relations and Security Media Department stated the first suspect holds South African passport, and the second suspect who is a Nigerian had been …

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Money exchange fined in K-Net transaction

KUWAIT CITY, Oct 15: The Central Bank of Kuwait has fined a local money exchange company KD 15,000 for transferring an amount of KD 12,000 through K-Net to one of its customers who works in a ministry. According to informed sources, money transfers have clear procedures and instructions that should …

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Money laundering issue tied to Indian nurses to be probed

KUWAIT CITY, Aug 30: The Anti-Corruption Public Authority (ACPA) will soon start investigating the money laundering issue concerning Indian nurses quoting sources. Sources affirmed that ACPA has taken the necessary measures such as addressing the foreign affairs minister, asking him to demand for information from the Indian Embassy to pave …

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‘Unlicensed foreign exchange bureaus expanding’

KUWAIT CITY, May 7: Despite the stringent monitoring regulations of the Central Bank of Kuwait on unlicensed and unregulated phenomenon of foreign exchange bureaus, there has been a significant increase in this business recently, as it has overstepped the contracting companies and import-export offices, and reached convenience stores (bakalas). Sources …

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‘CBK’ guidelines control transfers

KUWAIT CITY, May 6: Remittance is a service provided by local banks and money exchange companies registered in the Central Bank of Kuwait (CBK) and are authorized to transfer funds abroad in accordance with the ministerial decision, says Finance Minister Anas Al-Saleh. The minister made this statement in response to …

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Legislator tracks ‘suspect’ deposits

KUWAIT CITY, March 4: MP Riyadh Al- Adsani has published contents of the multimillion deposits case, stressing the need for the government to explain the legislative lapses in previous years which prompted him to present a draft bill on addressing these lapses. He said he has forwarded questions to Minister …

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Court sentences dirty dozen to jail for money-laundering

KUWAIT CITY, Jan 9: The Criminal Court, presided by Judge Mit’ib Al-Ardhi has sentenced 12 men to 10 years in jail with hard labor and fined them KD 198,000 each, reports Al-Anba daily. The court also acquitted one man, citing lack of evidence, and another to two-year imprisonment for forging …

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