As part of its ongoing review of compliance with the AML/CFT standards, the FATF has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.

As part of its ongoing review of compliance with the AML/CFT standards, the FATF has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.

As part of its ongoing review of compliance with the AML/CFT standards, the FATF has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.

There is currently no evidence of significant money laundering and no major terrorist activity has been recorded in the State of Kuwait. However, Kuwait’s financial sector is growing rapidly and thus may create a potential environment for such activities. The assessment team for this evaluation, composed of staff of the International Monetary Fund (IMF), concluded that the Kuwaiti AML/CFT framework had some deficiencies: terrorist financing is currently not criminalised, the money laundering offence does not cover all serious predicate offences, the Kuwaiti financial intelligence unit (KFIU) has not been established as an independent agency carrying out all core functions set out by the FATF standards, and there are shortcomings in the AML/CFT supervisory framework for some financial institutions and designated non-financial businesses and professions (DNFBPs).