Kuwait🇰🇼: the Central Bank strengthens measures against cyber fraud

Kuwait🇰🇼: the Central Bank strengthens measures against cyber fraud

The Central Bank of Kuwait has tightened measures to prevent and respond to cyber fraud. The regulator has required all payment operators to join the Central Virtual Chamber and report fraud cases to its monitoring system, with the aim of enabling immediate action and protecting customer funds in real time.

🔣 What is new❓

✈️ Each operator must have a dedicated email address for communication with judicial authorities. This channel will also be used to receive orders to freeze or seize customer funds, as well as requests for the disclosure of account balances. The person responsible for the address must keep message notifications enabled to ensure a timely response. Source: The Paypers

✈️ The Central Bank has also tightened accounting rules applicable to operators. Partners' current accounts will no longer be counted as part of their total equity. Instead, reserves, retained earnings, paid-in capital and other categories established by the regulations will be recognized as equity.

🔣 Context

✈️ The Central Virtual Chamber was established in December 2023 by the Kuwait Banking Association at the initiative of the Central Bank. Its main objective is to strengthen coordination between authorities and the banking sector to prevent and combat electronic fraud. The most common forms of fraud in the country include phishing, misleading advertising and fake prize messages.

✈️ In February 2026, Kuwaiti authorities dismantled an international criminal organization involved in money laundering through the hawala system. According to the authorities, the network had laundered more than USD 324 million since 2023.

🔣 For reference: Kuwait's population stood at approximately 5.1 million in mid-2026, while its nominal GDP was around USD 172.92 billion.

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