For Violating Anti-Money Laundering and Counter-Terrorist Financing Requirements, Insurance Authority Imposes Financial Penalty of SAR 250,000 on an Insurance Company

لمخالفتها التعليمات الخاصة بمتطلبات مكافحة غسل الأموال وتمويل الإرهاب هيئة التأمين تفرض غرامة مالية قدرها (250,000) ريال سعودي بحق إحدى شركات التأمين

The Insurance Authority issued a decision dated 13/05/2026 imposing a financial penalty of SAR 250,000 on an insurance company for violations of anti-money laundering and counter-terrorist financing requirements, related to money laundering and terrorist financing risk assessment requirements and transaction monitoring requirements. 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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