29/05/2019
Arab Times
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KUWAIT CITY, May 28: The Central Bank of Kuwait (CBK) denied rumors spread recently on the alleged huge amount of transfers by a client in a Kuwaiti bank, rousing suspicion that these transfers are part of money laundering operations, reports Al-Rai daily.
In a press statement, CBK cited Law No. 106 of the year 2013 on money laundering and financing terrorism stating that banking and financial institutions are responsible for direct notification of suspicious transactions.
It also stressed the need for these institutions to make sure that the amount of transactions matches the client’s income, size of wealth and nature of activity.
