Title: Press Release: “Money Laundering and Terrorism Financing Operations” Spotlighted in University Awareness Workshop by the CMA

Kuwait, March 4, 2024 – As part of the CMA's project to enhance financial inclusion and investment awareness and its pursuit to implement its objectives outlined in its establishment law, particularly to “Enhance public awareness of Securities activities and of the benefits, risks and obligations arising from investments in Securities and encourage their development”, the CMA held university awareness workshop in the College of Law at Kuwait University. The workshop was presented by Mr. Tareq Al-Jutaili – Anti-Money Laundering and Combating Financing of Terrorism Section Manager at the CMA. He discussed the operations of money-laundering and terrorism financing through two main areas:

- Money laundering: 
o Its definition, history and directions, and stages.
o Its means and indicators.
o Its damages and effects, whether at the economic level, financial institutions level, or political and social level.

- Terrorism financing:
o Its definition ad stages.
o The difference between money laundering and terrorism financing.
o Terrorism lists and types.

Moreover, the workshop discussed the efforts of anti-money laundering and combating financing of terrorism on both the local and international levels before introducing the Financial Action Task Force (FATF), and the circumstances of its establishment in 1989, its recommendations, and its visits to Kuwait.

Then, the workshop presented some articles of Law No. 106 of 2013 Regarding Anti-Money Laundering and Combating the Financing of Terrorism and the efforts of the national entities thereon.

The last area of the workshop was allocated to determining investigation in money laundering crimes in its various stages (suspicion, technical analysis, investigation, and judiciary) and presenting several practical realistic cases before concluding the workshop with answering the participants’ inquiries.

Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.
Furthermore, the Law stipulates the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs pertaining to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw