Public financial crimes: a critical analysis of the role of Kuwaiti criminal and regulatory agencies in the investigation process
Over the last two decades, Kuwait has introduced and enforced new laws intended to combat public financial crimes and has taken some positive steps towards establishing agencies that reinforce the criminal justice and regulatory systems. Despite these efforts, however, the evidence shows that little has changed. In fact, the country has failed to maintain its previous position on the Corruption Perceptions Index: over the last seventeen years, Kuwait has fallen in rank from 35 to 85. The primary aim of this thesis is to improve understanding of Kuwait’s response to public financial crimes. Towards this end, the thesis will examine the investigation process adopted by the Kuwaiti legislature and its regulatory agencies. Given the current lack of research in this area, this study, whose findings are based on a unique set of previously unavailable data collected through interviews with key participants in their respective agencies, will help to develop the existing literature. The thesis demonstrates a need to improve the criminal justice and regulatory system by highlighting the need to develop the current process for investigating financial crimes. In addition, it supports the extension and use of regulation to assist the criminal justice system in combatting financial crimes. This thesis begins by analysing the existing literature on the investigation process and empirical data collected from the interviews. Overall, the evidence generated supports the argument that neither the criminal justice nor the regulatory system alone can establish an effective mechanism for combatting financial crimes.
Financial crimes, financial investigation, Investigation process, criminal agencies, regulatory agencies, Kuwait
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