Article 70 of the Saudi Counter-Terrorism Crimes and Financing Law
المادة 70 من نظام مكافحة جرائم الإرهاب وتمويله · الفصل السادس: التدابير
Article 70 requires financial institutions, designated non-financial businesses and professions, and non-profit organizations, including those providing legal or accounting services, to report suspected terrorist financing immediately to the General Directorate of Financial Intelligence.
Official text (Arabic)
This article has not been amended since the law was issued.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة، والمنظمات غير الهادفة إلى الربح -بما في ذلك الأشخاص الذين يقدمون خدمات قانونية أو محاسبية- عند اشتباههم أو إذا توافرت لديهم أسباب معقولة للاشتباه في أن الأموال أو بعضها تمثل متحصلات أو في ارتباطها أو علاقتها بعمليات تمويل الإرهاب أو أنها سوف تستخدم في تلك العمليات بما في ذلك محاولات إجراء مثل هذه العمليات؛ أن تلتزم بالآتي:
1- إبلاغ الإدارة العامة للتحريات المالية فوراً وبشكل مباشر عن العملية المشتبه بها, وتزويدها بتقرير مفصل يتضمن جميع البيانات والمعلومات المتوافرة لديها عن تلك العملية والأطراف ذات الصلة.
2- الاستجابة لكل ما تطلبه الإدارة العامة للتحريات المالية من معلومات إضافية.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 70 explained in plain English
This article is one of the most important in the chapter, as it imposes the duty to report suspicious transactions.
Those addressed: financial institutions, designated non-financial businesses and professions, and non-profit organizations, expressly including persons who provide legal or accounting services.
When does the duty arise? Upon suspicion, or if there are reasonable grounds for suspicion, that the funds or some of them:
- represent proceeds, or
- are connected or related to terrorist financing operations, or
- will be used in those operations.
This includes attempts to carry out such operations, even if they are not completed.
What must be done?
- Notify the General Directorate of Financial Intelligence immediately and directly, with a detailed report containing all the data and information available about the operation and the related parties.
- Respond to everything the Directorate requests in additional information.
Article 71 complements this provision by prohibiting tipping off the customer that a report has been made, and by exempting the person reporting in good faith from liability toward the person reported.
A person unsure whether the duty applies to him would do well to consult a lawyer who specializes in banking compliance and combating terrorist financing.
Practical example
A customer asked an accounting office in Riyadh to arrange repeated transfers to a foreign party in a way that hides their source, and the office had reasonable grounds to suspect a link to terrorist financing. The office must notify the General Directorate of Financial Intelligence immediately with a detailed report, even if the transfers were not carried out.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 70 of the Saudi Counter-Terrorism Crimes and Financing Law
Must a lawyer or accountant report suspected terrorist financing?
Yes. The article expressly covers persons who provide legal or accounting services.
To whom is the report made?
To the General Directorate of Financial Intelligence, immediately and directly, with a detailed report.
Must a report be made if the operation was merely an attempt?
Yes. The article covers attempts to carry out the suspected operations.
Is suspicion enough without conclusive evidence?
Yes. The duty arises upon suspicion or when there are reasonable grounds for suspicion.
More articles on Duties of Financial Institutions and Reporting
- Article 6
Article 6 lets the Public Prosecution, and the Presidency of State Security at the evidence-gathering stage, request records and information from any person or institution, and requires fast, accurate execution and confidentiality.
1- للنيابة العامة -من تلقاء نفسها أو بناءً على طلب رجل الضبط الـجنائي- أن تطلب من أي شخص أو من المؤسسات المالية، أو الأعمال والمهن غير المالية المحددة، أو المنظ
- Article 63
Article 63 requires financial institutions, designated non-financial businesses and professions, and non-profit organizations to identify, assess, document and continuously update their terrorist financing risks.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة، والمنظمات غير الهادفة إلى الربح؛ تحديد و فهم مخاطر تمويل الإرهاب لديها وتقييمها وتوثيقها وتحديثها بشك
- Article 64
Article 64 requires financial institutions and designated non-financial businesses and professions to apply due diligence measures according to the risk level, tighten them when risk is high, and leaves the details to the Regulations.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ اتخاذ تدابير العناية الواجبة، وتحديد نطاقها على أساس مستوى مخاطر تمويل الإرهاب المرتبطة بالعملاء وعلا
- Article 65
Article 65 requires financial institutions and designated non-financial businesses and professions to keep all transaction records for at least 10 years and allows the Public Prosecution to require extending that period.
1- على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ الاحتفاظ بجميع السجلات والمستندات والوثائق والبيانات بما فيها مستندات تدابير العناية الواجبة، لجمي
- Article 66
Article 66 requires applying enhanced due diligence to dealings with persons from or residing in high-risk countries, and applying the risk-mitigation measures set by the supervisory authorities.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة؛ تطبيق تدابير العناية الواجبة المشددة على علاقات العمل والمعاملات مع أي شخص يأتي من بلد أو يقيم فيه تم
- Article 67
Article 67 requires financial institutions, designated non-financial businesses and professions, and non-profit organizations to set and effectively implement policies, procedures and controls to combat terrorist financing, with their content left to the Regulations.
على المؤسسات المالية، والأعمال والمهن غير المالية المحددة، والمنظمات غير الهادفة إلى الربح وضع السياسات والإجراءات والضوابط وتنفيذها بفعالية لمكافحة تمويل الإره
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.