IA fines insurance firm SAR 1M on violating anti–money laundry rules

30/10/2025 Argaam

The Insurance Authority (IA) announced the imposition of a SAR 1 million fine on an insurance company — whose name was not disclosed — after identifying several violations related to anti–money laundering and counter-terrorism financing requirements.


In a statement issued today, IA said the decision was dated Oct. 28, and was taken in accordance with Article 25 of the Anti-Money Laundering Law.

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