Due to violations of the Anti-Money Laundering and Counter-Terrorism Financing requirements, the Insurance Authority imposes a fine of SAR 300,000 on an insurance company

لمخالفتها التعليمات الخاصة بمتطلبات مكافحة غسل الأموال وتمويل الإرهاب هيئة التأمين تفرض غرامة مالية قدرها (300) ألف ريال سعودي بحق إحدى شركات التأمين

The Insurance Authority issued a decision dated 31/05/2026 imposing a fine of SAR 300,000 on an insurance company for violations of Anti-Money Laundering and Counter-Terrorism Financing requirements, related to money laundering and terrorism financing risk assessment and customer due diligence measures. 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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