Kuwait Backs FATF High Standards
During the second and third quarters of 2026, Kuwait witnessed intensive efforts to combat money laundering and terrorist financing. Authorities, including the Ministry of Commerce and Industry, issued circulars requiring companies and licensing entities to disclose the true beneficiary and to implement strict measures to prevent money laundering. In a recent report by the Financial Action Task Force (FATF), Kuwait was commended for its commitment to fulfilling most of its recommendations for the Middle East and North Africa region, with significant progress in developing monitoring systems and technical compliance. Additionally, the Ministry of Commerce updated its regulations in the real estate sector and for precious metals to strengthen risk assessment procedures and the reporting of suspicious transactions. However, the FATF report also warned of the increasing use of informal services and digital encrypted transfer methods in money laundering operations.
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