Due to violations of Anti-Money Laundering and Counter-Terrorism Financing requirements, the Insurance Authority imposes a fine of SAR 500,000 on an insurance company

لمخالفتها التعليمات الخاصة بمتطلبات مكافحة غسل الأموال وتمويل الإرهاب هيئة التأمين تفرض غرامة مالية قدرها (500) ألف ريال سعودي بحق إحدى شركات التأمين

The Insurance Authority issued a decision dated 26/05/2026 imposing a fine of SAR 500,000 on an insurance company after detecting two violations of Anti-Money Laundering and Counter-Terrorism Financing requirements, related to customer due diligence measures and AML/CTF compliance management arrangements. The action was taken under Article 25 of the Anti-Money Laundering Law (Royal Decree No. M/20, dated 5/02/1439 AH) and Article 83 of the Law on Combating Terrorism Crimes and its Financing (Royal Decree No. M/21, dated 12/02/1439 AH).

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