KUWAIT: Kuwait was ranked 90th worldwide and 3rd in GCC on the 2017 international money laundering and terrorist funding index. According to the report issued by The Basel Institute on Governance, Kuwait advanced from 83rd to 90th last year. Notably, the Basel AML Index measures the risk of money laundering and terrorist financing of countries based on publicly available sources. A total of 14 indicators that deal with AML/CFT regulations, corruption, financial standards, political disclosure and rule of law are aggregated into one overall risk score. By combining these various data sources, the overall risk score represents a holistic assessment addressing structural as well as functional elements in the AML/CFT framework.

By A Saleh and Meshaal Al-Enezi