The Anti-Money Laundering Permanent Committee discusses in its monthly meeting the latest developments in International Standards

In the presence of His Excellency the Governor of the Saudi Central Bank "SAMA", Chairman of the Anti-Money Laundering Permanent Committee (AMLPC), Dr. Fahad bin Abdullah Al-Mubarak, the Committee held its monthly meeting on Tuesday 13/10/1442AH (25/05/2021), with the attendance of the representatives of the AMLPC members. In his speech to the meeting, His Excellency praised the concerted efforts made by their Highnesses and Excellences the officials of the authorities concerned with combating money laundering and financing of terrorism and proliferation for their role in supporting the efforts and actions of the members of AMLPC and its secretariat, and their active contribution to achieving many accomplishments and successes. The most recent of which is the Kingdom's passing of the Mutual Evaluation Process and obtaining of permanent membership in the Financial Action Task Force (FATF), in line with the Kingdom's aspirations to achieve the objectives of 2030 Vision.

The committee members discussed a number of important issues within the framework of strengthening local measures to combat money laundering, and followed up on the progress made in implementing the National Action Plan and its Strategic Objectives approved by Royal Decree No. 28548 dated 24/05/1440AH. The AMLPC also discussed the results of the working groups formed from the committee members, including the Mutual Evaluation Working Group chaired by the Saudi Central Bank, the Statistics Working Group chaired by State Security Presidency, the Typologies, Training and Studies Working Group chaired by the Public Prosecution, and the Risk Team chaired by the Capital Market Authority. The AMLPC reviewed the latest developments regarding the Forty Recommendations issued by FATF to ensure that local regulations and legislations are consistent with international standards.




7-July-2022