30 October 2025
The Authority issued a decision on October 28, 2025, against an insurance company, imposing a fine of SAR 1,000,000 (one million Saudi Riyals) due to several violations of anti-money laundering and counter-terrorism financing requirements. This action is in accordance with Article (25) of the Anti-Money Laundering Law issued by Royal Decree (M/20) dated 05/02/1439 AH.
The Authority notes that this action falls within its primary role of supervising and regulating the insurance sector, and is part of its commitment to contributing to financial stability and enhancing the compliance of companies operating in the sector with anti-money laundering, counter-terrorism financing, and counter-proliferation requirements, in line with the recommendations of the Financial Action Task Force (FATF)