Ethics

Question 1

What money laundering regulations are you aware of?

Answer 1

RICS Professional Standard on Countering Bribery, Corruption, Money Laundering, and Terrorist Financing

1.	Saudi Anti-Money Laundering Law:
•	Establishes the legal framework for AML and CFT compliance in Saudi Arabia, requiring businesses and professionals to conduct customer due diligence, report suspicious transactions, and maintain records.

2.	Saudi Central Bank (SAMA) Guidelines:
•	Issues specific AML/CFT regulations for financial institutions to ensure compliance and effective reporting of suspicious activities.

3.	Saudi Arabia’s Financial Intelligence Unit (SAFIU):
•	The central agency responsible for receiving, analyzing, and disseminating financial intelligence related to money laundering and terrorist financing.