Workshop on preparing and Drafting of STR Templates and Suspicious Transaction Indicators

As part of the Technical Assistance program of the International Monetary Fund provided to the State of Kuwait, the KwFIU in cooperation with the IMF is organizing a workshop from 20/4/2014 to 22/4/2014 at the temporary headquarter of KwFIU in the Ministry of Finance.


The workshop addresses preparing and drafting Suspicious Transaction Report (STR) templates submitted by reporting entities. Reporting entities include: banks, exchange companies, exchange offices, investment companies, insurance companies, securities companies, financial brokerage companies and brokers, asset and joint fund managers and custodians, real estate agents, dealers in precious metals and stones, accountants and lawyers. These templates shall be used when reporting any suspicious transaction as per Law No. (106) of 2013 on Combatting Money Laundering and Terrorism Financing. The workshop also aims at identifying and drafting indicators to assist reporting entities in detecting suspicious transactions.The workshop will be attended by IMF experts and representatives from KwFIU, Central Bank of Kuwait and Public Prosecutor’s Office.
It is to be noted that the KwFIU was established pursuant to provisions of Law No. (106) of 2013 on Combatting Money Laundering and Terrorism Financing as an independent legal entity responsible for receiving, analyzing and disseminating information on funds suspected to be proceeds of, linked to or that may be used for money laundering or terrorism financing.