Penalties Re. the Violation of the Law of Transporting Money, Precious Metals, and Negotiable Instruments
| No: 371000035015 | Date(g): 3/1/2016 | Date(h): 24/3/1437 |
Translated Document
Reference to SAMA Circular No. 361000033868 dated 03/03/1436 H based on the letter of the Director of Public Security No. 3/2416/3 dated 24/02/1436 H, regarding violations of the law of transporting money, precious metals and valuable documents issued by Royal Decree No. (M/81) dated 18/10/1428 H, and its implementing regulations issued by Ministerial Decision No. (4814) dated 9/10/1433 H, which includes SAMA's request to take all necessary measures to ensure compliance with the implementation of the law's controls, and in the event that any violations or observations are detected, they are documented and sent as soon as possible to SAMA.
Accordingly, SAMA calls on all banks to quickly lift all violations of companies transporting money, precious metals and valuable documents that were detected during the year 2015, within a maximum period of one week from its date, while assigning the Bank's Compliance Department to lift violations of the law of transferring money, precious metals and valuable documents on a monthly basis, and send them to the Supervision Division of Monetary Centers at SAMA.