For Violating Anti-Money Laundering and Counter-Terrorist Financing Requirements, Insurance Authority Imposes Financial Penalty of SAR 875,000 on an Insurance Company

لمخالفتها التعليمات الخاصة بمتطلبات مكافحة غسل الأموال وتمويل الإرهاب هيئة التأمين تفرض غرامة مالية قدرها (875,000) ريال سعودي بحق إحدى شركات التأمين

The Insurance Authority issued a decision dated 10/05/2026 imposing a financial penalty of SAR 875,000 on an insurance company for violations of anti-money laundering and counter-terrorist financing requirements, covering risk assessment, enhanced due diligence, transaction monitoring, and AML/CTF compliance management arrangements. The action was taken under Article 25 of the Anti-Money Laundering Law issued by Royal Decree No. (M/20) dated 05/02/1439 AH, in line with FATF recommendations.

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