Regulatory Alerts2025-04-14
Added · Updated
Circular Re. Counter-Fraud Fundamental Requirements
The Saudi Central Bank (SAMA) mandates financing companies and payment service providers to fully comply with the Counter-Fraud Fundamental Requirements Guide by April 13, 2026. Institutions must submit a comprehensive gap assessment and board-approved action plan by July 2025, followed by quarterly compliance reports until full implementation. This circular supersedes prior financing company fraud rules and establishes a proactive, inspection-driven framework to elevate maturity in managing evolving fraud risks.
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