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  • VIII. Confiscation

    • Article 33

      Without prejudice to the rights of third parties acting in good faith, in the event of a conviction for a money laundering or predicate offence, the competent Court shall issue an order to confiscate the following: 
       
       a.Laundered funds;
       b.Proceeds of the crime, including proceeds intermingled with funds acquired from legitimate sources up to the value of the intermingled proceeds; and
       c.Instrumentalities.
      2.The competent court shall order the confiscation of funds regardless of whether the funds are held or owned by the defendant or a third party. Funds may not be confiscated if a third party can establish that he/she acquired the funds by paying a fair price or in return for the provision of services corresponding to the value of such funds or based on other legitimate grounds, and that he/she was unaware of their illicit origin.
      3.The competent court may invalidate or prohibit an activity, whether contractual or otherwise, if one or more of the parties knew or should have known that such an activity could prejudice the ability of the competent authority to recover funds subject to confiscation.

    • Article 34

      The competent court shall order confiscation associated with money laundering not convicted in case of the court verdict is not issued due to the perpetrator death or escape or the difficulty of recognize him/her or in case of the absence.

    • Article 35

       1-In cases where confiscation is not possible because the funds are no longer available for confiscation or cannot be located, the court shall order confiscation of any other funds owned by the convict in order to recover an amount that is equivalent in value.
       2-The court shall issue a confiscation order of any other funds owned by the convict to complete the required amount of the confiscation if the extent to which the value of the funds confiscated falls short of the value of funds under Article 33.

    • Article 36

      Unless other Law stipulates otherwise, confiscated funds shall accrue to the Public Treasury. These funds remain bearing any rights lawfully adjudicated in favor of third parties acting in good faith.

      36/1

      In the implementation of this Article regarding funds, proceeds or instrumentalities subject to confiscation, the Council of Ministers’ Resolution no. 48, dated 18/2/1421H shall be taking into consideration.

    • Article 37

      As per the provisions set out in this law, when funds, proceeds of crime, used instruments are convicted or intentionally were to use or to recover, the competent authority has the authority to deal with them according to the law, or share them with countries that are signatories with the Kingdom to valid agreements or treaties.

      37/1

      The competent authority mentioned under this article that are competent to disposal of fund or confiscated instrumanlities is the authority that made the provisional seizure.

      37/2

      The competent authority mentioned under this article that are competent to share confiscated funds is the Permanent Committee on Mutual Legal Assistance.