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Bridging the Gap: Understanding Money Laundering and Terrorist Financing Dynamics in the United Kingdom and Kuwait for Enhanced Regulatory Strategies

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  • Ahmad Alqatan Alqatan

Abstract

Purpose: This study aims to examine the different components and mechanisms surrounding money laundering and terrorist financing in the U.K. and Kuwait. Design/methodology/approach: The methodology will be based on data collected from interviewers in Kuwait. The research is followed by a research analysis that discusses the results obtained. Findings: Based on a literature review conducted over the analysis of rules and regulations for combating money laundering and financing terrorism, it can be argued that laws may affect other organizations. Hence, the governments of both countries, like the U.K. and Kuwait should first consider the implications and outcomes of the laws. Practical Implications: It is also inferred from the literature review that there are differences in the fines or punishments for offences like money laundering or terrorism financing. By adopting a comprehensive strategy that includes both regulated and non-regulated sectors of the country, it is possible to keep a watch over suspicious practices like transactions, gift-giving, bribery, corruption, and trafficking. However, there are different factors that should be taken into consideration, like economic, social, political and media realities. Originality/Value: The research is significant since it points out vital issues linked to money laundering and terrorism funding in these countries. The authorities can use this information since they can use it as a reference to the establishment of anti-money laundering and financing of terrorism in these countries.

Suggested Citation

  • Ahmad Alqatan Alqatan, 2024. "Bridging the Gap: Understanding Money Laundering and Terrorist Financing Dynamics in the United Kingdom and Kuwait for Enhanced Regulatory Strategies," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 24-45.
  • Handle: RePEc:ers:ijebaa:v:xii:y:2024:i:4:p:24-45
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    References listed on IDEAS

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    6. Gnutzmann, Hinnerk & McCarthy, Killian J. & Unger, Brigitte, 2010. "Dancing with the devil: Country size and the incentive to tolerate money laundering," International Review of Law and Economics, Elsevier, vol. 30(3), pages 244-252, September.
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    More about this item

    Keywords

    Money laundering; finance of terrorism; regulations; Kuwait and United Kingdom.;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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