-4- collects checks and payment orders, bankers drafts, travelers checks, or electronic money on behalf of a person; or provides facilities or arrangements for the lease of safe deposit boxes or any other form of safe deposit. Customer: any person that undertakes any of the following with a financial institution or a designated non-financial business and profession: a. Any person for whom a transaction, business relationship or account is arranged, opened or undertaken. b. Any signatory to a transaction, business relationship or account. c. Any person to whom an account, rights or obligations under a transaction have been assigned or transferred. d. Any person who is authorized to conduct a transaction, or to control a business relationship or an account. e. Any person who initiates any of the actions referred to above. Beneficial owner: any natural person who ultimately owns or exercises direct or indirect control over a customer or the person on whose behalf a transaction is being conducted. It also includes those persons who ultimately exercise ultimate control over a legal person or legal arrangement. The Unit: the Kuwait Financial Intelligence Unit. Supervisory authority: The authority with responsibility to ensure compliance by a financial institution or designated non-financial business and profession with the requirements under this Law, including the Central Bank of Kuwait, the Capital Market Authority, the Ministry of Commerce and Industry, and any other person designated by the Executive Regulation of this Law. Competent authority: All public authorities in Kuwait with designated responsibilities for combating money laundering or terrorism financing, including the Unit, supervisory authorities, the General Administration of Customs, and the Ministry of Interior. Freezing: Temporary restraint of funds under the management of their holder and the prohibition of their transfer, conversion, disposition, movement or transportation based on a decision by the prosecutor’s office or any of his attorney generals. Seizing: detention and temporary restraint of funds by the prosecutor’s office or any other legal person based on a decision by the prosecutor’s office or any of his attorney generals. Legal arrangements: express trusts or other similar arrangements. Politically exposed person (PEP): any natural person who is or has been entrusted with a prominent public function in the State of Kuwait or a foreign country; or with a high-level management position in an international organization, including family members. The