Kuwait’s Anti-Money Laundering Law No. 35/2002

Index of topics

00. Chapter 1 Defining and Criminalizing (1-2)

01. Chapter 2 Commitment of Banking, Financial and Government Institutions (3-5)

02. Chapter 3 Sanctions (6-16)

03. Chapter 4 International Cooperation (17-20)

After reading the Constitution,

Law No. 15 of 1960 is to pass the Commercial Companies Act and the amended laws,

– And on the Penal Code no. 16 of 1960 and the laws equivalent to it,

On the Law of Procedure and Criminal Trials issued by Law No. 17 of 1960 and the amended laws,

Law No. 32 of 1968 on cash, the Central Bank of Kuwait, the banking profession and the amended laws,

The decree is decreed by Law No. 13 of 1980 in relation to customs.

On the decree of Law No. 23 of 1990 on the organization of the judiciary and the laws amended for it,

The National Assembly approved the following law, which reads, and we ratified it and issued it:

0 – Chapter 1

Definition and criminalization of money laundering (1-2)

Article 1

Money laundering is a transaction or group of financial or non-financial transactions, aimed at concealing or concealing the illicit source of funds or proceeds of any crime and showing it in the form of funds or proceeds from a legitimate source, such as any such transaction that contributes to the recruitment or transfer of proceeds of the proceeds of our Direct or indirect coverage of a crime, concealment or concealment of its source.

Article 2

The perpetrator of money laundering shall be anyone who has committed or initiated the following acts:

1. Conducting a money laundering operation knowing that it is obtained from a crime or obtained from an act of participation.

2. Transfer, transfer, possession, making, use, retention or receipt of funds, knowing that they are derived from a crime or obtained from an act of participation.

3. Concealing or concealing the truth of the funds, their source, location, manner of disposal, movement, or related rights or ownership, knowing that they are obtained from a crime or obtained from an act of participation.

1- Chapter 2

Commitment of banking, financial and government institutions (3-5)

Article 3

Banks, investment companies, exchange institutions, insurance companies, other financial institutions and persons who are determined by the Minister of Finance must comply with the following:

1. Do not keep any anonymous accounts or accounts under fictitious or symbolic names or open such accounts.

2- Verifying the identity of its customers in accordance with official documents issued by the competent authorities of the state.

3. Keep all documents relating to transactions carried out, whether domestic or external, including personal identity photographs of its clients, for at least five years from the date of completion of the transaction.

4. Report any suspicious financial transaction contacted.

5- Adopt a training policy for officials and staff to ensure that they are kept informed of the latest developments in the fight against money laundering operations.

6- Adopting appropriate work procedures and internal control systems so that they can detect any of these operations as soon as they occur and prevent them from being exploited to pass suspicious transactions.

These financial institutions and persons must also comply fully with the ministerial instructions and decisions issued to them by their government agencies regarding the aforementioned items as well as any other ministerial instructions and decisions related to the fight against money laundering.

Article 4

When entering the country, every person must inform the customs authorities of national or foreign currencies, gold bullion or other valuables, in accordance with the rules and procedures of a decision of the Minister of Finance.

Article 5

The Attorney General determines the competent authority for the public prosecutor to receive reports of money laundering operations provided for in this Law.

2- Chapter 3

Penalties (6-16)

Article 6

With no more severe penalty provided by another law, anyone who commits an offence under article (2) of this Act shall be punished with a maximum of seven years’ imprisonment, a fine of not less than half the value of the funds in question and not more than the full value of these funds, and the confiscation of funds, property and property. Instruments and media used to commit the crime, without infringed the rights of others of good faith.

The expiry of the criminal case does not prevent the confiscation of funds obtained from money laundering operations, and in all cases in which confiscation is ordered in accordance with the provisions of this article, the confiscated funds shall be disposed of in accordance with the rules and procedures by which a decision of the Minister of Finance is issued.

Article 7

The penalty of imprisonment stipulated in article 6 of this Act is doubled and the penalty of fine is doubled by at least the value of the funds in question and not more than twice the value of these funds and the confiscation of funds, property, proceeds and media used in the commission of the crime without prejudice to the rights of others in good faith. If the crime is carried out through an organized group, or if it is committed by the perpetrator, taking advantage of the authority of his or her or her influence.

Article 8

The Attorney General may order that the accused be prevented from disposing of all or some of his funds until the criminal case is decided.

The court must file an injunction against the order to prevent the action three months after the order was issued.

The court must rule on the complaint as a matter of urgency either by rejecting it, by overturning the order or by amending it and deciding on the necessary safeguards if necessary. The complaint may not be refiled until six months after the date of dismissal.

The Attorney-General may reverse the order or amend it in accordance with the requirements of the investigation.

Article 9

The penalty shall not be dropped within the period of the penalty of any of the offences stipulated in article 2 of this Law, which occurs after the introduction of it.

The sentence imposed after the introduction of this act shall not be imposed for offences under article 2 of the Act.

The provisions of articles 81,82 of the Penal Code may not be applied in relation to such offences.

Article 10

The court shall exempt the penalty prescribed by Articles 6,7, each of the perpetrators who informed the competent authorities of the crime and its perpetrators before it is known.

Article 11

With no further penalty under another law, imprisonment shall be punishable by up to three years’ imprisonment and a fine of not less than 5,000 dinars and not more than 20,000 dinars, or one of these penalties, with dismissal from office, anyone who must report in accordance with the provisions of article 3 4 of this Law and The government has not yet received any request sought to provide the relevant information.

The government’s decision to reduce the number of women in the national police force is a matter of concern.

Article 12

In the absence of a breach of the criminal liability of a natural person provided for in this law, companies ask persons for offences under Article II.

The company shall be punished with a fine of not more than one million dinars if the crime occurs on its behalf or in its name by one of its organs, directors, representatives or one of its employees, and the court rules to revoke the license to engage in activity if the company was established for the purpose of committing one of the offences stipulated in the article. second of this law.

In all cases, the confiscation of funds, property, proceeds and media used to commit the crime is ruled without prejudice to the rights of others of good faith, and the judgement shall be published in the Official Gazette and in two daily newspapers.

The criminal proceedings against the company are initiated against its legal representative at the time of the proceedings, and the company may be represented by any person authorized by the company in accordance with the law or statutes of the company, and this representative may not be subject to any coercive action other than the actions taken against the witness.

Article 13

Violation of article 4 of this law is punishable by imprisonment of not more than one year and a fine of not more than 1,000 dinars or one of these penalties.

Article 14

Criminal, civil or administrative liability shall be exempted from criminal, civil or administrative liability to natural or legal persons who in good faith inform information in accordance with the provisions of this Act, even if it is found that the operations associated with these communications are not properly and not condemned.

Article 15

By decision of the Minister of Finance, the amount of remuneration paid to anyone who has guided, contributed, facilitated or participated in the seizure of a money laundering offence under article 2 of this Act shall be determined by a decision of the Minister of Finance.

Article 16

The Public Prosecutor’s Office only investigates, disposes and prosecutes the reports received about the offences provided for in this Law.

The Criminal Court of the High Court is competent to hear these crimes.

3- Chapter 4

International Cooperation (17-20)

Article 17

If the Public Prosecutor’s Office receives a request from the competent jurisdiction of another state, may order the tracking or seizure of property, proceeds or media associated with crimes stipulated in this Law if such crimes are committed in the other country and in violation of its laws, if there is a certified bilateral agreement. on them with that state in this regard, or in accordance with the principle of reciprocity.

Article 18

The Criminal Court ordered the execution of any final enforceable ruling issued by a competent court in another country providing for the confiscation of funds, proceeds or media associated with the crime of money laundering, if it found a bilateral agreement ratified with that state in this regard, or in accordance with the principle of reciprocity, to be For funds confiscated under foreign rule, which may be confiscated in the same circumstances in accordance with Kuwaiti law, without prejudice to the rights of others of good will, however, if the foreign provision contains clauses relating to the rights of third parties, it is binding on the court if the third party does not claim its rights before the foreign courts.

The criminal court may hear in a manner of judicial representation when needed, the convicted person and all persons whose rights relate to the funds confiscated in foreign rule, and may have access to a lawyer before the Kuwaiti judiciary.

The rules of the Law of Procedure are followed by the Criminal Court, which hears the order to implement the foreign sentence.

Article 19

The Minister of Finance shall decide on the procedures and controls required by the implementation of the provisions of this law.

Article 20

The Prime Minister and the Ministers, each in his own right, must implement this law.