In brief
Criminalises money laundering and requires financial institutions and designated non-financial businesses and professions to apply due diligence, keep records and report suspicious transactions, and governs seizure, confiscation and international cooperation.
Summary of the law
Penalties
- Money laundering: two to ten years' imprisonment or up to SAR 5 million, or both (Article 26).
- With aggravating circumstances, such as an organised criminal group or the use of violence or weapons: three to fifteen years or up to SAR 7 million, or both (Article 27).
- Supervisors may impose administrative sanctions on non-compliant institutions, including fines of up to SAR 5 million per violation (Article 25).
Practical tip
- Businesses and professions covered by the law should document customer and beneficial-owner checks; failing to do so is a separate violation even without any laundering.
A plain-language summary prepared by Al-Bayan Al-Wadih Law Firm, focused on the violations and problems that come up most in daily life. It is not a substitute for the official text or for legal advice.
What it covers
- The money-laundering offence
- Duties of institutions and designated professions
- Suspicious transaction reports
- Penalties and confiscation
Timeline
- Issued: Royal Decree M/20 · 5/2/1439H
Full record of amendments and regulations at the official source
Official text at the Bureau of Experts
The authoritative text is in Arabic; the Bureau of Experts publishes English translations for some laws.
Full official text
The full official text is in Arabic and is reproduced on the Arabic version of this page, as published by the Bureau of Experts at the Council of Ministers. Read the full Arabic text
Library content is simplified general information for awareness only. It is not legal advice and does not replace the official text. Laws change: always check the official source and consult a lawyer before acting. Library data last reviewed: .