Saudi Arabia successfully prosecutes six people after moves to curb TBML via interagency coordination and consolidation
Prosecutors in Saudi Arabia have successfully convicted six people who participated in a trade-based money laundering (TBML) operation involving expatriates and Saudi citizens. The convictions follow moves last year by the authorities to improve to streamline the Kingdom’s tax and customs operations and coordinate interagency…
Saudi agencies join forces to tackle trade system abuses
Saudi Arabia has announced a memorandum of understanding (MoU) between the country’s Public Prosecution and its General Customs Authority (GCA) to the effect that they will cooperated to detect and prevent money laundering through its trade system. Trade-based money laundering (TBML) is one of three…
