The Saudi Arabia Insurance Authority fined an insurance ancillary services provider SAR 300,000 for breaches of anti-money laundering and counterterrorist financing requirements concerning enhanced due diligence and money laundering and terrorist financing risk assessments.
Saudi Arabia Insurance Authority fines insurance ancillary services provider SAR 300,000 for AML and CFT breaches
The Saudi Arabia Insurance Authority imposed a SAR 300,000 fine on an insurance ancillary services provider for deficiencies in enhanced due diligence and money laundering and terrorist financing risk assessments.