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Having Examined the Constitution, the Act No. 15 of 1960 by Business Companies Act, As Amended, the Penal Code Act No

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Having Examined the Constitution, the Act No. 15 of 1960 by Business Companies Act, As Amended, the Penal Code Act No Having examined the Constitution, The Act No. 15 of 1960 by Business Companies Act, as amended, The Penal Code Act No. 16 of 1960, as amended, The Law of Criminal Procedure Act No. 17 of 1960, as amended, The Law No. 32 of 1968 on the IMF and the Central Bank of Kuwait and the banking profession, as amended, The Decree-Law No. 13 of 1980 regarding the customs, The Decree-Law No. 23 of 1990 on the organization of the judiciary, as amended, The board of the nation on the law following text, which we have approved and issued : Chapter I The definition of money laundering operations and criminalized Article 1 Money laundering is a process or a series of financial or non-financial, designed to conceal or disguise the illicit origin of funds or the proceeds of any crime and produced in the form of money or proceeds from a legitimate source, is such a process did all contribute to the process of recruitment or transfer funds or the proceeds resulting directly or indirectly from the crime or to conceal or disguise the source. Article 2 Counting guilty of the crime of money laundering each one of the following acts committed or attempted to commit: One - a process of money laundering with the knowledge that they are derived from the crime or derived from an act of participation. Two-transport, transfer or possession or acquisition, use or retain or receive funds with the knowledge that they are derived from the crime or derived from an act of participation. Three-conceal or disguise the fact money or source, location, disposition, movement, rights or ownership, with the knowledge that they are derived from the crime or derived from an act of participation. Chapter II The commitment of the banking and financial institutions And Governmental bodies Article 3 The banks and investment companies, institutions and firms, insurance companies and other financial institutions and persons who shall be designated by a decision of the Minister of Finance commitment to the following : - 1-not retaining any anonymous accounts or accounts in fictitious names or symbolic or opening such accounts. 2-verification of the identity of their clients, according to the official documents issued by the competent authorities in the State. 3 - retain all of the documents related to transactions conducted by either domestic or foreign, including photographs of the personal identity of their clients, and for a period of at least five years from the date of completion of the transaction. 4-to report any suspicious financial transaction contacted by the flag. 5-adopt a policy for the training of officials and workers to ensure kept informed of the developments in the field of combating money laundering operations. 6-build procedures and the internal control systems appropriate to be able to detect any of those operations as soon as they occur and to prevent exploitation to pass suspicious transactions. Should those financial institutions and the full commitment of the ministerial instructions and decisions issued by the competent government authorities in regard to the items mentioned above, as well as any instructions and ministerial decisions related to combating money laundering operations. Article 4 Every person must when entering the country to inform the customs authorities for possession of national currencies foreign or gold bullion or any other valuable items in accordance with the rules and procedures established by a decision of the Minister of Finance. Article 5 The Attorney General Assembly on behalf of the competent authority to receive reports of money laundering operations set forth in this law. Chapter III Sanctions Article 6 Without prejudice to any more severe penalty provided by the law of another person who commits a crime set forth in the Article (2) This Act is punishable by a term of up to seven years and a fine of not less than half the value of money does not exceed the total value of such funds and the confiscation of money and property, proceeds and instrumentalities used in the commission of the crime, and so without prejudice to the rights of bona fide third parties. The expiration does not preclude criminal prosecution for any reason without judging by his money from money laundering operations, In all cases in which a forfeiture in accordance with the provisions of this article is to dispose of assets confiscated in accordance with the rules and procedures established by a decision of the Minister of Finance. Article 7 Double punishment set forth in the Article 6 This law and doubled a fine not less than the value of money and more than twice the value of such funds and the confiscation of money and property, proceeds and instrumentalities used in the commission of the crime and without prejudice to the rights of bona fide third parties if the crime through an organized group, or if committed by the offender, taking advantage of his authority or influence. Article 8 The Attorney General may order the removal of the accused from disposing of all or some of his pending determination of the criminal proceedings. Every significant to complain to the competent court of the injunction to act after three months from the date of issuance of this matter. The court must rule on the complaint urgently either refusing or canceling the order or amended and the report of the Safeguards necessary if it is unnecessarily. There may be recourse only after six months from the date of the dismissal of petition. And the Attorney-General may abandon or amend it in accordance with the requirements of the investigation. Article 9 Not subject to a statute of limitations in criminal prosecution of any of the offenses set forth in the Article 2 This law, which takes place after work. Not subject to a statute of limitations sentence after work this law in the crimes set out in Article 2 Him. Nor may the application of the provisions of Articles 81 and 82 of the Penal Code in these crimes. Article 10 The court may exempt from the penalty articles 6 ، 7 Each of the initiative to inform the competent authorities of the perpetrators of the crime and the perpetrators before the flag. Article 11 Without prejudice to any more severe penalty provided by the law of another, A penalty of up to three years and a fine of not less than five thousand dinars and not more than twenty thousand dinars. or a fine, with the removal from office, all those who must report in accordance with the provisions of item 4 Article 3 This law has not reported suspicious financial transaction contacted his knowledge or disclosure of the information brought to his knowledge by virtue of his position of a crime set forth in the Article 2 This law, the concealment or destruction of documents or instruments related to those crimes. Without prejudice to the provisions set forth in the preceding paragraph shall be punished by the failure to prove any of the obligations set forth in the Article (3) This law of a fine of not more than one million dinars. Article 12 Without prejudice to criminal liability of a natural person under the present law, ask individual companies penalty for the crimes set forth in the Article II Him. The company punished by a fine not exceeding one million dinars if the crime occurred on the account or in the name or by one of its directors, or their representatives, or one of their workers, The court ruled to cancel the license to engage in the activity if the company had been established for the purpose of committing a crime set forth in the Article II From this law. In all cases governing the confiscation of money and property, proceeds and instrumentalities used in the commission of the crime, and so without prejudice to the rights of bona fide third parties, the ruling published in the Official Gazette and newspapers daily. It will be directly criminal proceedings against the company in the face of its legal representative time to take action, The company can be represented by any person with authority in this matter in accordance with the law or the statute of the company, may not be subjected to any such representative involves coercion - the measures taken against the witness. Article 13 Any breach of the provisions Article (4) This law imprisonment for a term not exceeding a year and a fine not exceeding one thousand dinars, or both. Article 14 Exempt from criminal liability, civil or administrative natural or legal persons who in good faith report information in accordance with the provisions of this law, even if it does not condemn the safety and operations associated with these communications. Article 15 The decision of the Minister of Finance, the amount of compensation payable for each of the rational or contributed to or facilitated or participated in the seizure of a money laundering offenses set forth in the Article 2 From this law. Article 16 The Department of Public Prosecutions alone investigation and disposition of the claim and in the communications received on the crimes set forth in that law. The court Criminal Tribunal total consideration of these crimes. Chapter IV International cooperation Article 17 The public prosecutor's office if it receives a request from the competent judicial authority of another State may order tracking or seizure of property or proceeds or media-related crimes provided for in this law if those crimes were committed in other State and violation of the laws, and so if there is a bilateral agreement with the certified by the State in this regard, or in accordance with the principle of reciprocity.
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