Gulf | Kuwait
Kuwait cracks down on money launderers
Kuwait introduces new measures to cut down on increasing incidents of money laundering and smuggling
- By Habib Toumi, Bahrain Bureau Chief
- Published: 11:56 July 12, 2010
Manama: People travelling to or from Kuwait, carrying more than KD3, 000 (Dh37, 983.2) in cash or valuables without declaring them, could face money-laundering charges, a senior customs official has said.
"The introduction of the measure to investigate people crossing the borders with cash and valuables worth more than KD 3,000 and not declaring them is not meant to limit freedom, but rather to counter crimes of money-laundering and smuggling," Farhan Al Ajmi, the General Customs Department's Supervisor at Abdalli and Salmi port, said. "There have been several cases in recent times of criminals attempting to smuggle laundered funds into the country in the form of jewellery," he said in the Kuwait Times.
The measure applies to Kuwait's exit and entry points at the airport, on land and at sea ports.
Similar measures have been taken by other countries, Al Ajmi added.
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