The ministry said in a statement to KUNA that the penalties were assessed under Ministerial Decision No. 25 of 2026, which details sanctions for designated non-financial businesses and professions violating Law No. 106 of 2013 on combating money laundering and terrorist financing. Of the total, 135,000 dinars targeted the 27 gold, precious stones and precious metals traders at 5,000 dinars per violation while the remaining 20,000 dinars covered four real estate brokerage cases. The ministry’s tally listed the breaches as failures to notify the Kuwait Financial Intelligence Unit within two working days of detecting suspicious transaction indicators.
All violations occurred during the first eight months of the year, according to the ministry’s review of compliance in sectors classified as higher risk for financial crime. The gold trade in particular has drawn intensified scrutiny since authorities updated regulatory frameworks earlier in 2026 to address gaps in customer due diligence and transaction reporting. A ministry assessment found that consistent enforcement of these notification rules helps protect the integrity of commercial activity across Kuwait.
This action follows a similar campaign in the second quarter when ministry data showed 141,500 dinars in fines across 83 cases involving jewelry businesses and real estate brokers. Those penalties, announced in August, accompanied more than 350 corrective orders and nearly 330 written warnings as the Penalties and Sanctions Enforcement Section expanded its oversight. The earlier figures also noted a rise in applications for dedicated compliance officers in both sectors.
Regulatory changes introduced through Ministerial Decision No. 172 of 2026 have imposed additional obligations on gold and precious metals dealers, including a prohibition on cash transactions that requires all payments to route through Central Bank-approved instruments. Dealers must now retain transaction documentation for any deal above 3,000 dinars and implement enhanced verification of beneficial owners as well as source of funds. The Kuwait Financial Intelligence Unit receives these suspicious activity reports through a dedicated electronic platform to facilitate rapid analysis.
The ministry has applied risk classifications to jewelry sector entities using comprehensive, objective, social and emergency criteria to prioritize inspections. Earlier campaigns, such as one in May that examined 84 gold shops in the Mubarakiya market, uncovered dozens of additional breaches ranging from inadequate employee training to missing due diligence steps. Officials continue to receive and process compliance officer nominations as part of the broader effort to embed anti-money laundering controls in daily operations.
