KUWAIT CITY, Dec 9: The Kuwaiti judiciary has confirmed that it continues to focus on money laundering cases, warning these crimes are considered the biggest threat to the State, reports Al-Qabas daily. The Court of Cassation had earlier sentenced seven expatriates working in the money exchange field to 10 years in prison. It fined them a total of KD60 million, along with three companies, for involvement in money laundering cases. Documents related to this case unveiled one of the most dangerous criminal organizations involved in suspicious transfers.

The Financial Investigation Unit submitted a report about the movement of funds in the accounts of a company whose capital does not exceed KD1,000. Yet, it made deposits exceeding KD60 million within two years without proof of any practical, commercial, or investment activity, or even the payment of fees or checks for the purchase of goods. The Public Prosecution confirmed that the defendants formed one of the country's largest criminal networks for money laundering, stating they justified some money transfers as “for importing sheep, which is not proportionate to the amounts transferred.”

The charge sheet stated that those referred for trial transferred funds suspected to have been obtained by harming national interests and illegally collected cash (Kuwaiti dinars) from a money exchange entity, indicating the money was deposited into the bank accounts of two other companies and an agent believed to have received commissions. It was proven that the defendants used the funds to conceal the illegal source, the nature of the transaction, and the owner. The Kuwaiti judiciary warned that some expatriates are engaged in activities deemed harmful to national interests, as they created a huge illegal financial system outside the scope of the State’s regulatory authorities, similar to legitimate systems, and through it, they made financial transfers to external parties in a way that prevents identification of the involved parties.