The Saudi Arabia Insurance Authority fined an insurance ancillary services provider SAR 300,000 for breaches of anti-money laundering and counterterrorist financing requirements concerning enhanced due diligence and money laundering and terrorist financing risk assessments.
2026-08-18Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority fines insurance ancillary services provider SAR 300,000 for AML and CFT breaches
The Saudi Arabia Insurance Authority imposed a SAR 300,000 fine on an insurance ancillary services provider for deficiencies in enhanced due diligence and money laundering and terrorist financing risk assessments.