Anti-Money Laundering Law

State of Kuwait · 40 stored articles

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Articles 1 – 5040

Article 1In applying the provisions of this Law, the following words and expressions shall have the meaning indicated opposite each: Funds: Any type of assets and property,…
Article 2Anyone who knows that funds are derived from an offence and intentionally undertakes the following shall be deemed to have committed the offence of money laundering:…
Article 3Anyone who, directly or indirectly, wilfully and unlawfully provides or collects funds, or attempts to do so, with the intention that they be used to commit a terrorist…
Article 4Financial institutions and designated non-financial businesses and professions must assess the related money laundering and terrorist financing risks, including those…
Article 5Financial institutions are prohibited from opening any anonymous accounts or accounts under fictitious names, or maintaining such accounts. Financial institutions and…
Article 6The provisions of Articles (4), (5) and (11) of this Law shall apply to real estate agents and brokers if they participate in transactions on behalf of their clients…
Article 7The Executive Regulations shall specify the measures that financial institutions must take before entering into a banking relationship with foreign correspondent banks…
Article 8A shell bank may not be licensed or permitted to conduct its business within the State of Kuwait. Financial institutions shall refrain from entering into or continuing…
Article 9Financial institutions engaging in electronic transfer activities must obtain information concerning the transfer originator and the transfer recipient when conducting…
Article 10Financial institutions and designated non-financial businesses and professions shall comply with the following: 1 - Establish internal policies, procedures, systems, and…
Article 11Financial institutions and designated non-financial businesses and professions shall retain the following records and information, which the competent entities may…
Article 12Financial institutions and designated non-financial businesses and professions shall notify the Unit without delay of any transaction or attempted transaction,…
Article 13Financial institutions and designated non-financial businesses and professions, and their directors and employees, are prohibited from disclosing to the customer or…
Article 16A unit called the “Kuwaiti Financial Intelligence Unit” shall be established, having independent legal personality and acting as the entity responsible for receiving,…
Article 17The Unit shall determine the countries considered high-risk and the measures to be taken in relation to them. The supervisory authorities shall verify the compliance of…
Article 18With respect to any information it has obtained in accordance with its functions, the Unit shall have the authority to obtain, from any person subject to the reporting…
Article 19The Unit may—if it has reasonable indications for suspecting that funds are proceeds of an offence, or funds linked or related thereto, or may be used to carry out money…
Article 20Every person entering or leaving the State of Kuwait who possesses currency or bearer negotiable financial instruments, or arranges for their transport into or out of…
Article 21The Public Prosecution shall exclusively undertake the investigation, disposition and prosecution of the offences stipulated in this Law, and the Criminal Court shall…
Article 22Without prejudice to the rights of bona fide third parties, the Public Prosecutor, or an Advocate General authorised by him, may order the freezing or seizure of the…
Article 23The Public Prosecution shall exchange requests for international cooperation with the competent foreign authorities in criminal matters in the field of money laundering…
Article 25The Council of Ministers shall, upon a recommendation from the Minister of Foreign Affairs, issue the decisions necessary to implement United Nations Security Council…
Article 26Every contract or disposition whose parties, or one of them, knew or had reason to believe that the purpose of the contract or agreement was to prevent the confiscation…
Article 27Without prejudice to any more severe penalty prescribed by the Penal Code or any other law, (1) Replaced pursuant to the text of Decree-Law No. 76 of 2025 Law Index 447…
Article 28Whoever commits any of the property crimes provided for in Article (2) of this Law, if he knew that those funds and instrumentalities were derived from crime, shall be…
Article 29Anyone who commits any of the terrorist financing offences stipulated in Article (3) of this Law shall be punished by imprisonment for a term not exceeding fifteen years…
Article 30The penalties provided for in Articles (28) and (29) of this Law shall be increased to imprisonment for a term not exceeding twenty years and double the fine, where any…
Article 31The court may exempt the offender from the penalty prescribed in Articles (28) and (29) if he takes the initiative to report to the police, the Public Prosecution, or…
Article 32Without prejudice to the criminal liability of the natural person, any legal person committing a money laundering or terrorist financing offence shall be punished by a…
Article 33 مكررAnyone who violates a decision issued pursuant to Article (25) of this Law shall be punished by a fine of not less than ten thousand dinars and not more than five…
Article 34Anyone who establishes or attempts to establish a shell bank in the State of Kuwait in violation of the first paragraph of Article (8), or enters into a business…
Article 35Anyone who intentionally or through gross negligence commits the following shall be punished by imprisonment for a term not exceeding three years and a fine of not less…
Article 36Anyone who violates the provisions of the third paragraph of Article (16) shall be punished by imprisonment for a term not exceeding three years and a fine of not less…
Article 37Anyone who violates the provisions of Article (20), makes a false disclosure concerning currency or bearer negotiable instruments, or conceals, intentionally or through…
Article 38Without prejudice to the penalties prescribed in this Part, the court may prohibit the perpetrator of any offence—permanently or temporarily—from continuing to practise…
Article 39The imposition of penalties (in accordance with the provisions of this Law) shall not preclude the imposition of the sanctions and measures imposed by supervisory…
Article 40Without prejudice to the provisions of Articles (28, 29) of this Law and the rights of third parties acting in good faith, the court shall (in the event of conviction…
Article 42Neither the criminal action nor the punishment imposed for the offences provided for in this Law shall lapse by the passage of time, and the provisions of Articles )81(…
Article 43The Minister of Finance shall issue the implementing regulations of this Law within six months from the date of its publication.
Article 44The aforementioned Law No. (35) of 2002 is repealed. Decisions currently in force shall continue to apply insofar as they do not conflict with the provisions of this…