Saudi Arabia's Insurance Authority has published a March 25 decision imposing a SAR 500,000 penalty on an insurance company for breaching anti-money laundering and counter-terrorist financing requirements relating to the monitoring and ongoing review of transactions and activities.
2026-04-07Saudi Arabia Insurance Authority
Saudi Arabia's Insurance Authority fines insurer SAR 500,000 for transaction monitoring breach
Saudi Arabia's Insurance Authority fined an insurance company SAR 500,000 for deficiencies in the monitoring and ongoing review of transactions and activities under anti-money laundering and counter-terrorist financing requirements.