Anti-Money Laundering Investigations in Saudi Arabia

in Business Security

The Ministry of the Interior in Saudi Arabia received a total of 3,919 suspicious financial transaction reports about possible money laundering cases between 2012 and 2013. Financial authorities also received 419 notifications about possible terrorism financing activities.

The number of institutions reporting suspicious transactions increased by 120 percent from the amount of reports between 2008 and 2012.

Out of the total suspicious reports, 223 notifications about money laundering and 88 regarding terrorism financing were further investigated by security services.

Source:  “Money laundering cases shoot up by 120%, says report,” Arab News, January 27, 2014.

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