Regulatory Alerts2018-11-14
Added · Updated
Updating the Lists of High-Risk Countries on the AMLPC Website
The Saudi Central Bank’s Anti-Money Laundering and Countering the Financing of Terrorism Department (AMLPC) issued this circular to direct regulated financial institutions, designated non-financial businesses and professions, insurance entities, financing companies, and licensed money exchangers to continuously monitor the AMLPC website for updates to its high-risk country list. The circular mandates that these entities apply risk-based due diligence measures aligned with the newly designated high-risk countries, as required under Article 11 of the Anti-Money Laundering System. Regulated parties must enhance their internal risk identification processes by regularly accessing the official AMLPC portal via the provided web link.
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