Money Laundering

Anti-Money Laundering and Terrorist Financing Policy

  • Kuwait-based Caveo Brokerage Company has been a broker in the market since 2010. It provides global investments through world-renowned platform “MetaTrader 5” (MT5). The company also ensures to educate and train its clients, via its website caveo.com.kw, through various courses and digital lessons. These courses tackle the use of trading tools, ways of reading the market, and dealing with economic news and indicators that affect clients’ decisions in the trading process.
  • The company also has its own smartphone app that updates clients on economic indicators and keeps them up to date with the latest economic news. Caveo also provides reports by analysts on the latest global economic developments, and it gives its clients recommendations during trading. In addition, the company provides its clients with trading desk services. The desk operates around the clock on trading days (from Monday to Friday), and its services include responding to client queries on market movement, news, and economic indicators.
  • The Training and Analysis Department publishes scientific content through the communication channels available to clients, whether electronically, or via meetings and training courses, with the aim of spreading investment awareness and helping clients reduce investment risks.
  • Caveo Brokerage Company operates under the supervision of the Department of Anti-Money Laundering and Terrorist Financing of the Kuwaiti Ministry of Commerce and Industry.
  • Caveo Brokerage Company is devoted to establishing clear procedures for combating money laundering and terrorist financing. This comes within the framework of its adherence to relevant laws and regulations, in accordance with Law No. (106) of 2013, and Minister of Finance’s Decree No. (37) of 2013, to avoid using the accounts of clients, whether Individuals or companies, for illegal purposes, which could involve money laundering or terrorist financing.
  • Caveo was keen to hire a compliance controller whose responsibilities involve establishing control policies. These involve preparing risk studies relating to clients, geographical scope, and nature of products, in accordance with the regulations and directives issued by the Kuwaiti Department Anti-Money Laundering and Terrorist Financing, and Financial Action Task Force (FATF) to develop the suitable controls and standards.
  • The company is also keen to explain the nature of its work and providing information on each department’s operates. It also puts in place control measures to which it trains its staff to adopt.
  • Caveo also works to establish the necessary client care metrics, by evaluating new business relations, establishing financial transaction controls, studying client accounts, and analyzing financial movements and flows.


The company applies the procedures required when establishing a new relation. It does that by adopting a package of policies and measures to determine the identity of clients, in accordance with the directives of the Kuwaiti Anti-Money Laundering and Terrorist Financing Department. The step aims to ensure the safety and security of the company. Moreover, the company follows and tracks these client safety and care metrics to limit the risks that come with some clients and to prevent reputational, operational, and legal issues, any of which may result in high financial losses.


The company has a clear plan to provide regular training courses for its employees. These training courses focus on the policies of identity recognition and the requirements of this process, and they raise awareness of the risks of money laundering and terrorist financing, introducing anti-financial crime (AFC) laws and regulations, and the latest relevant circulars, whether the ones issued from the Kuwait Financial Investigations Unit or similar international authorities.


  • General information on money laundering and explaining the meaning of the concept of money laundering and terrorist financing
  • The duties and responsibilities of employees.
  • Internal policies, such as the procedures of identity recognition and client care
  • The requirements of reporting suspicious transactions.


The company regularly follows up on the work plan and procedures to combat money laundering and terrorist financing. It also develops stronger methods and tighter measures to limit, or eliminate altogether, suspicious transactions.