Tuesday , October 17 2017

Tag Archives: money laundering

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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Jail extended for Kuwaiti, Iraqi in money-wash case

KUWAIT CITY, Dec 15: The Detention Renewal Judge has decided to extend the detention of the Kuwaiti artist, identified as A.A., and an Iraqi expatriate, identified as A.S., who are accused of money laundering and drug smuggling as well as manufacturing intoxicants. The suspects were arrested after the Drugs Control …

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Syrian charged with money-laundering caught

KUWAIT CITY, Dec 2: Personnel from the General Department of Criminal Investigations have arrested a Syrian and charged him with money laundering, reports Al-Shahed daily. The daily added, the suspect was caught after he attempted to deposit cash in various local banks following which the concerned authorities identified the source …

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Four arrested & detained in money-laundering case – ‘Real estate market fraudulent’

KUWAIT CITY, Nov 17: In an interesting twist in the Public Prosecution’s investigation into the case involving Kuwait’s TMAS Company which has been accused of money laundering, Attorney General Dhe-rar Al-Asousi issued a protective order on the bank accounts of the company and its affiliates — TMAS Real Estate and …

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Real estate firm director detained in money-laundering

KUWAIT CITY, Oct 19: The Public Prosecution has ordered the detention of the Director of real estate company who is charged with money laundering, reports Al-Jarida daily. The security sources said the suspect, a Sudanese executive chairman of the company was arrested by the Emirati Interpol and extradited to Kuwait …

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