Regulatory Alerts2023-11-09
Raising Awareness About the Crime of Foreign Bribery
The Saudi Central Bank issued a circular announcing the Supervision and Anti-Corruption Authority's amendment to Article (Eighth) of the Anti-Bribery Law, which criminalizes foreign public official bribery in international commercial transactions. The accompanying awareness booklet outlines detection methods, contact details, and reporting mechanisms to enhance compliance across financial institutions. The Authority has announced its readiness to conduct targeted workshops to disseminate the booklet's contents and ensure institutional preparedness.
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