Kuwait poised to step up fight against money laundering - minister

KUWAIT, July 25 (KUNA) -- Kuwait makes it a point to keep abreast of global efforts to stifle such nefarious practices as money laundering and terror financing, the country's Minister of Commerce and Industry Khaled Al-Roudhan said Wednesday.
Kuwait has made tremendous headway in the fight against these unscrupulous deeds, Al-Roudhan was cited as saying in a statement issued by the ministry of commerce and industry.
He added that the ministry, which is currently involved in a workshop in conjunction with the US Department of Justice over detecting suspicious business transactions, has taken steps to keep money-laundering operations at bay.
"Luring investment is highly contingent upon a vibrant business environment," the minister emphasized, citing the need for rigid anti-money laundering legislation.
Local bodies and a phalanx of experts have assembled for the workshop, which is scheduled to end later on Wednesday. (end) osj.tb.nam