Skip to content
Qanoon
Sign in

Supervisory Authorities and Sanctions in the Saudi Anti-Money Laundering Law

الجهات الرقابية وجزاءات المخالفات — نظام مكافحة غسل الأموال

Supervisory authorities' powers to collect information, conduct field inspections, assess risks, issue instructions and apply fit-and-proper procedures; and their sanctions for violations, from a warning and a fine of up to SAR 5 million per violation to barring the violator from work, suspending managers, and suspending or withdrawing the license (Articles 24 and 25).

3 articles

Other topics in the Saudi Anti-Money Laundering Law

Definitions in the Anti-Money Laundering LawThe Money Laundering OffenseRisk Assessment and Due DiligenceCorrespondent Relationships and Wire TransfersRecord Keeping and Internal ControlsReporting Suspicious TransactionsGeneral Directorate of Financial IntelligenceCustoms Declaration of FundsPenalty for Money LaunderingMitigating the Penalty for Money LaunderingConfiscating Laundered FundsInternational Cooperation and ExtraditionPrecautionary Seizure and Investigation