Money laundering and terrorist financing are considered criminal activities in Saudi Arabia under the Anti-Money Laundering Law and the Law on Combating the Financing of Terrorism and their Implementing Regulations. Such laws and regulations include preventive measures that the Financial Institution and its staff must take. Since such crimes do not only affect the Financial Institution but also the society and state, the Financial Institution shall have policies and procedures in place that ensure implementing strict measures to reduce the risk of misuse for financial crime purposes. The Financial Institution Staff shall combat financial crimes, including money laundering and terrorist financing, avoid engaging in and report any unusual or suspicious activities to the Financial Investigation Unit in accordance with the legal requirements.

The Financial Institution Staff shall be responsible for applying the AML/CFT instructions, including reporting suspicious transactions and activities, and not carrying implication to inform someone that he has been reported. In case of unfounded reports made in good faith, the person reporting such transactions and activities shall have no liability to the reported person.

The Financial Institution shall assign AML/CFT tasks to employees only after joining specialized and accredited AML/CFT courses. The Financial Institution shall also spread knowledge of AML/CFT by all appropriate means, such as training courses and bulletins.

Duties and Responsibilities of Financial Institution Staff:

• commit to the implementation of the Anti-Money Laundering Law and the Law on Combating the Financing of Terrorism, and SAMA's relevant instructions.
• perform the duties and tasks with honesty, integrity, accuracy and professionalism.
• not engage in any criminal, money laundering or terrorist financing activities.
• immediately report all suspicious transactions carried out by Stakeholders or the Financial Institution Staff by the concerned department to the AML/CFT department, which in turn reports such transactions to the Financial Investigation Unit at the Presidency of State Security.
• not carry implication to inform Stakeholders or staff that their activities that have been reported, will be reported to competent authorities or under investigation by the Financial Institution are suspected.