22000 Kuwait Dinar caught at Kuwait Airport
22000 Kuwait Dinar caught at Kuwait Airport
With the cooperation between ministry of interior and General Administration of Customs, a man (Arab national) was caught smuggling 22 thousand Kuwaiti dinars while leaving the country. The arab national was arrested and turned in for investigation for breaking the law of money laundering.
What is Money Laundering?
Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source.
The processes by which criminally derived property may be laundered are extensive. Though criminal money may be successfully laundered without the assistance of the financial sector, the reality is that hundreds of billions of dollars of criminally derived money is laundered through financial institutions, annually. The nature of the services and products offered by the financial services industry (namely managing, controlling and possessing money and property belonging to others) means that it is vulnerable to abuse by money launderers.
Kuwait News
- Events in Kuwait
- Departures to increase upto 2,500 per day
- 120,000 Residency violators still in Kuwait
- The Cabinet decides to start fourth phase from Tuesday
- New residency bill for expats
- Inbound flights … end of August
- Plan completed to resume the commercial flights at Kuwait Airport
- Temporary law permitting ‘Salary Cuts’ in Private Sector
- List of shops which are allowed to operate
- 120,000 expats will not be able to ‘renew’ residency
- 3 months extension for all expiring visas; Expats standard abroad grace period of 1 yr instead of 6 months
- Maidan Hawally (Block 11) will not be under Isolation
- Flights Reservations open for Kuwaitis along with domestic workers
- 5 phases to get back to normal Kuwait
- Following services will start from 31.05.2020
- Full lockdown in Farwaniya, Mahboula, Jleeb Al-Shuyoukh, Khaitan, Hawally areas and Partial Curfew from 6pm to 6am
- Guidelines for Banks set for the resumption of work and customers services
- 10 deaths, 845 new infections of coronavirus in Kuwait, total 24,112
- Jleeb, Mahboula isolation to end
- 3 deaths, 692 new infections of coronavirus in Kuwait, total 23,267
- 7 deaths, 608 new infections of coronavirus in Kuwait, total 22,575
Filed in: All • Expats in Kuwait • Local News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
