Kuwait banks to keep close eye on accounts

The local banks plan to regulate the business activities that may be exploited by individuals through commercial activities, aiming to keep track on the clients’ accounts receiving money in their personal accounts from multiple sources on a continuous and increasing basis, in exchange for providing commercial services and products, which puts them under the light of suspicion, reports Al-Rai daily.

There have also been vigorous steps taken by the concerned authorities regarding the development of a legal framework regulating the activities and operations of social media influencers, after the increase in referrals made by the Investigation Unit to the Public Prosecution over the past four years, which ended with the filing of cases for the absence of a law and regulations regulating these new activities by individuals, Informed sources told the daily.

These measures, which were initiated by the ministries of the state, such as Commerce and Industry, Social Affairs, Justice, Interior, Finance, and others, deal with important files that have been waiting for resolution for a long time related to negative phenomena and wholesale practices, while one of the most important contributing measures aims to close doors from which potential crimes of money laundering and terrorist financing and other suspicious may be carried out.