In­ves­ti­ga­tors flag 36 in­di­ca­tors of money laun­der­ing, ter­ror fi­nance

Arab Times - - FRONT PAGE -

KUWAIT CITY, Sept 10: As part of its on­go­ing ef­forts to stop those as­so­ci­ated with fi­nanc­ing ter­ror­ism and money laun­der­ing, the Fi­nan­cial In­ves­ti­ga­tion Unit has up­dated 36 in­di­ca­tors that will as­sist banks to mon­i­tor the ac­tiv­i­ties of in­di­vid­u­als who are in­volved in il­le­gal ac­tiv­i­ties, re­ports Al-Rai daily.

The in­di­ca­tors cir­cu­lated re­cently by the Fi­nan­cial In­ves­ti­ga­tions Unit to banks, fi­nance com­pa­nies and money ex­changes in­cluded 21 in­di­ca­tors re­lated to the clients, 9 re­lated to treat­ment (be­hav­ior), and 7 re­lated to ge­o­graph­i­cal lo­ca­tion.

Among the most promi­nent in­di­ca­tors of the cir­cu­lar, in­clude re­fusal of a client to deal with fe­male em­ploy­ees and fre­quently chang­ing per­sons who are authorized to op­er­ate a par­tic­u­lar ac­count, as well as in­for­ma­tion that in­di­cates sup­port for pub­li­ca­tions or ex­trem­ist ac­tions.

The cir­cu­lar also men­tioned new clients who fre­quently ask em­ploy­ees about dis­clo­sure, re­port­ing, or record­keep­ing re­quire­ments and other de­tails, not to men­tion clients who do trans­ac­tions on be­half of other peo­ple, and the ini­tia­tive of a per­son to open mul­ti­ple ac­counts, in ad­di­tion to the client’s reg­u­lar travel to ar­eas of con­flict, fre­quent trans­fers to for­eign coun­tries, which show no work­ing re­la­tion­ship with the coun­tries of desti­na­tion.

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