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Wednesday , November 20 2019

11 Company owners in Kuwait accused of money laundering and terror financing

Interior cracks down on suspicious transactions

KUWAIT CITY, Oct 13: As part of tightened measures to crack down on suspicious financial transactions, informed sources revealed to the Al-Qabas daily that the Ministry of Interior is conducting intensive investigations with the owners of 11 companies who are accused of money laundering and financing terrorism, reports Al-Qabas daily.

The security sources, in cooperation with the Central Bank of Kuwait, concluded that these companies, which work in the fields of real estate and money exchange, have made remittances worth millions of dinars in coordination with external bodies, and before the transfers were completed the owners and employees of these companies were called for interrogation.

The sources went on to say, the concerned authorities monitored the activities of the suspects after putting them under surveillance. According to the same sources, the investigations and information took a long time to reach the security services, and this led to suspicious financial transactions of these companies, which may be involved in financing cases of terrorism and money laundering.

The sources explained the investigations revealed huge amounts of money changed hands between exchange and real estate companies that dealt with similar companies outside the country who worked in agreement between people in Kuwait and others residing in Iran and other countries to deliver funds to organizations, destinations and people.

It was also discovered that some exchange companies received large amounts from people and sent them abroad, through a type of mechanism to avoid monitoring, but the vigilance of security services in coordination with the Central Bank and after monitoring and scrutiny thwarted the attempted transfers.

The sources added that the Ministry of Interior informed other concerned parties of these suspicious companies, and their transactions were temporarily suspended until the investigations are completed. Under the patronage of the Undersecretary of Interior Ministry Lt General Essam Al-Naham, graduation ceremony was held for batch numbers 44 and 45 of the basic training course for land border security at the Headquarters of the General Department of Land Border Security Affairs in Mutla’a.

The event, which included the graduation of batch No.9 of the seagull training course was attended by Assistant Undersecretary for Education and Training Affairs Major General Sheikh Mazen Al-Jarrah, Assistant Undersecretary for Support Services Major General Zuhair Al-Nasrallah, Assistant Undersecretary for Borders Major General Sheikh Salem Al- Nawaf, and Assistant Undersecretary for Private Security Major General Shukri Al-Najar.

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