1/1- The following words and phrases - wherever they appear in the Law or Regulation - shall have the meanings indicated opposite each of them unless the context requires otherwise:

• A- Person: means a natural or legal person.
• B- Legal Person: any entity other than natural persons that can establish a permanent working relationship with a financial institution or own assets.
• C- Transaction: includes any dealing with funds or cash or in-kind proceeds. This includes, but is not limited to: deposit, withdrawal, transfer, sale, purchase, lending, exchange, loan or loan extension, mortgage, gift, financing, or transfer of funds in any currency, cash or by checks, payment orders, shares, bonds, or any other financial instruments, use of safes and other forms of secure deposit, or any other dealing with funds.
• D- Economic Resources: assets of any kind, whether tangible or intangible, movable or immovable, actual or potential, that can be used to obtain money, goods, or services, including but not limited to equipment, furniture, fixtures, and other fixed assets: ships, aircraft, vehicles; merchandise inventories; art; jewelry; gold; oil products, refined products, refineries, and related materials including chemicals and lubricants; wood or other natural resources; weapons and related materials, raw materials and components that can be used to manufacture improvised devices or unconventional weapons, and any types of proceeds from crime, including from illegal cultivation, production, trafficking of drugs or their precursors; patents, trademarks, copyrights, and other forms of intellectual property; internet hosting or related services.
• E- Correspondent Relationship: the relationship between a correspondent financial institution and a receiving financial institution through any type of account or any other related services such as cash management, international money transfer, check clearing, foreign exchange services, trade finance, liquidity management, and short-term lending. This includes correspondent relationships arising for securities transactions or money transfers.
• F- Group: a group consisting of a company or any other type of legal or natural persons who exercise control over the rest of the group. They coordinate functions with the rest of the group to apply or implement group-wide anti-money laundering controls, along with branches or subsidiaries subject to group-level anti-money laundering policies and procedures.
• G- Legal Arrangements: a relationship arising under a contract between two or more parties without creating a legal personality, such as trusts or other similar arrangements.
• H- False Declaration: providing false information about the value of currency or bearer negotiable instruments being transferred, or providing other incorrect relevant information required in the declaration or by the Zakat, Tax, and Customs Authority, including failure to submit the declaration as required.
• I- Controlled Delivery: a method allowing the competent authority under its supervision to permit illicit or suspicious funds or crime proceeds to enter, transit, or exit the Kingdom’s territory for the purpose of investigating a crime and identifying its perpetrator.
• J- Electronic Wallet: a service provided by an electronic money company to a payment services user for the purpose of issuing, storing, and managing electronic money.

2/1- The financial activities or operations referred to in paragraph (7) of Article (One) of the Law mean the following activities:

• A- Accepting deposits and other payable funds from the public, including private banking services.

• B- Lending, leasing finance, or any other financing activities.

• C- Cash or value transfer services.

• D- Issuing and managing payment instruments (such as credit cards, debit cards, checks, traveler's checks, payment orders, bank transfers, and electronic currency).

• E- Issuing letters of guarantee or other financial guarantees.

• F- Activities related to securities as stipulated in the Capital Market Law, or trading activities in the following instruments:

  • 1- Checks, promissory notes, certificates of deposit, derivatives, and other instruments.
  • 2- Currencies.
  • 3- Currency exchange instruments, interest rates, and financial indices.
  • 4- Financial derivatives.
  • 5- Futures contracts for commodities.

• G- Foreign currency exchange activity.

• H- Participation in securities issuance and provision of financial services.

• I- Management of individual and collective portfolios.

• J- Custody and management of cash or securities on behalf of others.

• K- Concluding protection and/or savings contracts and other types of insurance related to investment as an insurer, intermediary, or agent for insurance contracts or any other insurance products stipulated in the Cooperative Insurance Companies Control Law or any systems and regulations applied by the Insurance Authority.

• L- Investing, managing, or operating funds on behalf of another person.

3/1- The commercial or professional activities referred to in paragraph (8) of Article (One) of the Law mean the following activities:

• A- Real estate brokerage activities when entering into sale and purchase relationships of all types of real estate.

• B- Trading in gold, precious stones, or precious metals when involved in cash transactions with a client valued at SAR 50,000 or more, whether the transaction is a single operation or several connected operations, whether through individual establishments or commercial companies.

• C- Lawyers and any person providing legal or accounting services in the course of their profession, when preparing or executing transactions or performing any of the following activities:

  • 1- Buying or selling real estate.
  • 2- Managing client funds including bank accounts or other assets.
  • 3- Establishing, operating, or managing legal persons or legal arrangements, or organizing related subscriptions.
  • 4- Selling or buying commercial companies.

4/1- The supervisory authorities referred to in paragraph (12) of Article (One) of the Law are the following authorities:

• A- Saudi Central Bank.
• B- Capital Market Authority.
• C- Ministry of Commerce.
• D- Ministry of Justice.
• E- National Center for Non-Profit Sector Development.
• F- Insurance Authority.
• G- Any other authority authorized by a law with powers of regulation, supervision, or control over financial institutions, specified non-financial businesses and professions, or non-profit organizations.

5/1- The acts referred to in paragraph (16) of Article (One) of the Law mean the following:

• A- Arranging or conducting a transaction or business relationship or opening an account or electronic wallet for it.
• B- Signing a transaction or business relationship or account or electronic wallet.
• C- Allocating an account or electronic wallet or transferring rights or obligations under a transaction.
• D- Being authorized to conduct a transaction or control a business relationship or an account or electronic wallet.
• E- Initiating any of the preceding procedures.

6/1- The competent authorities referred to in paragraph (13) of Article (One) of the Law are the following:

• A- Public Prosecution.
• B- Ministry of Interior.
• C- Presidency of State Security.
• D- Supervisory authorities.
• E- Zakat, Tax, and Customs Authority.
• F- General Directorate of Financial Investigations.
• G- Oversight and Anti-Corruption Authority.
• H- Any other authority assigned to implement the provisions of the Law.

2/1 The money laundering offense under the law apply, according to the law, to the person who committed the

predicate offense and participated in money laundering crime.

1/5- Financial institutions and designated non-financial businesses and professions shall identify, assess, and understand their money laundering risks, document this in writing, update the risk assessment periodically along with the related information, and provide the risk assessment report and related information to the competent supervisory authorities upon request. The nature and scope of the risk assessment process must be commensurate with the nature of the business and the size of the financial institutions and designated non-financial businesses and professions.

2/5- Financial institutions and designated non-financial businesses and professions, when assessing their money laundering risks, shall focus on the following elements:

• A- Risk factors related to customers, and factors related to the beneficial owner or the beneficiary of the transactions.
• B- Risk factors arising from the countries or geographic areas where customers conduct their business, or the source or destination of the transaction.
• C- Risks arising from the nature of the products, services, or transactions offered, or the channels through which the products, services, or transactions are provided.

3/5- Financial institutions and designated non-financial businesses and professions, when conducting a risk assessment study, shall take into account any risks identified at the national level, and any variables that may increase or decrease the money laundering risk in a particular situation, including:

• A- The purpose of the account or business relationship.
• B- The volume of deposits or transactions conducted by the customer.
• C- The frequency of transactions or the duration of the business relationship.

4/5- Financial institutions and designated non-financial businesses and professions, based on the results of the risk assessment, shall develop and implement internal controls, policies, and procedures to combat money laundering that specify the appropriate level and type of measures to manage and effectively mitigate those risks. They must also monitor the implementation of these policies, controls, and procedures and enhance them whenever necessary.

5/5- Financial institutions and designated non-financial businesses and professions, when risks are high, whether identified at the national level or through risk assessments, shall implement enhanced measures to mitigate those risks. They shall implement mitigating measures when risks are low to manage and reduce the risks. Mitigating measures are not permitted in cases of suspected money laundering; or where the low risks identified in the business risk assessment are inconsistent with the risk results identified at the national level.

6/5- Financial institutions and designated non-financial businesses and professions shall identify money laundering risks that may arise from the development of new products or business practices, new means of delivering services, products, or transactions, or those arising from the use of new or developing technologies on new or existing products. Risks must be assessed before launching the new product or business practice, or before using new technologies or products under development or newly introduced, and appropriate measures must be taken to manage and mitigate the identified risks.

1/7- Financial institutions and designated non-financial businesses and professions shall take due diligence measures when performing the following:

• A- Before starting to open a new account or electronic wallet or establishing a new business relationship.
• B- Before conducting a transaction for a client with whom there is no business relationship, whether this transaction is one-time or multiple, provided that these transactions appear to be connected.
• C- Before making a telegraphic transfer for a client with whom there is no business relationship.
• D- When there is suspicion of money laundering operations, regardless of the amount of the transaction.
• E- When there is doubt about the accuracy or sufficiency of the client data previously obtained.

2/7- Due diligence measures must be risk-based and include, at a minimum, the following elements:

• A- Identifying the client’s identity and verifying it using documents, data, or information from a reliable and independent source, as follows:

  • 1- For a natural person: Financial institutions and designated non-financial businesses and professions must obtain the full name of the person as recorded in official identification documents, in addition to the residential address or national address, date and place of birth, nationality, and verify this information.
  • 2- For a legal person or legal arrangement: Financial institutions and designated non-financial businesses and professions must obtain the name of the person and its legal form, proof of establishment, the authorities regulating and governing the legal person or arrangement, the names of all directors and senior administrators, the registered official address, and place of business if different. They must verify this information.
  • 3- Depending on the risks posed by a particular client, financial institutions and designated non-financial businesses and professions must determine whether any additional information should be collected and verified.

• B- Verifying the person acting on behalf of the client, ensuring that this person is indeed authorized to act in this capacity, identifying them, and verifying their identity according to the procedures stipulated in paragraph (A) of this article.

• C- Identifying the beneficial owner and taking reasonable measures to verify their identity using documents, data, or information from a reliable and independent source, so that financial institutions and designated non-financial businesses and professions are convinced that they know the beneficial owner, as follows:

  • 1- The natural person who owns or controls 25 percent or more of the shares of the legal person must be identified, and reasonable measures must be taken to verify their identity.
  • 2- In cases where there is no controlling share as specified in the previous paragraph, or where it is suspected that the owner of the controlling share is not the beneficial owner, the natural person who exercises control over the legal person by other means must be identified, or as a last resort, the natural person who holds a senior management position must be identified and verified.
  • 3- For legal arrangements: The identity of the settlor or trustee, or the beneficiaries or categories of beneficiaries, and any other natural person who exercises actual and ultimate control over the legal arrangement or holds similar positions for other types of legal arrangements must be identified, and reasonable measures must be taken to verify this identity.

• D- Understanding the purpose and nature of the business relationship and obtaining additional information about it when necessary.

• E- Understanding the ownership and control structure of the client who is or constitutes a legal person or legal arrangement.

3/7- Financial institutions and designated non-financial businesses and professions must verify the identity of the client and the beneficial owner before establishing the business relationship or opening the account or during them; or before executing a transaction for a client with whom there is no business relationship. In cases where the money laundering risks are lower, the identity verification process may be completed after establishing the business relationship, provided that this is done as soon as possible. The deferral of identity verification must be necessary to avoid interrupting normal business procedures, and appropriate and effective measures must be applied to control money laundering risks. Financial institutions and designated non-financial businesses and professions must take measures to manage risks related to circumstances in which the client may benefit from the business relationship before the verification process.

4/7- In addition to the measures stipulated in Article 2/7, financial institutions, with regard to the beneficiary of a protection insurance policy or protection with savings or other insurance policies related to investment, shall apply the following due diligence measures immediately upon identifying or naming the beneficiary:

• A- For a beneficiary specified by name, the name of the person, whether a natural person, legal person, or legal arrangement, must be obtained.
• B- For a beneficiary specified by category or specific descriptions or through other means such as a will or inheritance; sufficient information about the beneficiary must be obtained to ensure that the financial institution will be able to identify the beneficiary when paying the compensation.
• In all cases, the financial institution must verify the identity of the beneficiary before paying the compensation under the insurance policy or before exercising any rights related to the policy.

5/7- The financial institution must consider the beneficiary of the insurance policy referred to in paragraph 4/7 as one of the risk factors when enhanced due diligence procedures may apply, and if the financial institution deems that the beneficiary poses greater risks, it shall apply all measures and verify the identity of the beneficial owner at the time of payment.

6/7- Financial institutions and designated non-financial businesses and professions must continuously apply due diligence measures to all business relationships according to the degree of risk, and audit transactions conducted throughout the relationship period to ensure their consistency with the client’s data, activity, and the risks they represent. They must verify that the documents, data, and information collected under due diligence measures are updated and appropriate by reviewing existing records, especially for high-risk clients.

7/7- Financial institutions and designated non-financial businesses and professions must apply due diligence measures to clients and existing business relationships at the time the law and regulation come into effect. They must apply due diligence measures to their clients and existing business relationships according to relative importance and risks, and apply ongoing due diligence measures to clients and existing relationships at appropriate times, taking into account whether due diligence measures were previously applied, the time those measures were taken, and the adequacy of the data obtained.

8/7- Financial institutions and designated non-financial businesses and professions that cannot comply with due diligence requirements shall not open an account, establish a business relationship, or execute the transaction; and when it concerns their clients or existing business relationships, they must terminate the business relationship with them. In all cases, consideration must be given to filing a suspicious report with the General Directorate of Financial Investigations.

9/7- In cases where the reporting entity suspects a money laundering operation and has reasonable grounds to believe that applying due diligence measures may alert the client, it may decide not to apply due diligence measures and submit a suspicious transaction report to the General Directorate of Financial Investigations, stating the reasons for not applying due diligence measures.

10/7- Financial institutions and designated non-financial businesses and professions may use a financial institution or any other designated non-financial business or profession to perform client identification and verification, beneficial owner identification and verification, and take the necessary measures to understand the nature and purpose of the business relationship.

11/7- When financial institutions and designated non-financial businesses and professions use other parties as specified in paragraph 10/7, the employing financial institutions and designated non-financial businesses and professions must do the following:

• A- Immediately obtain all information related to the required due diligence measures.
• B- Take measures to ensure that obtaining copies of identification data and other documents related to due diligence measures will be provided upon request, without delay, by the other party used.
• C- Ensure that the other party is subject to regulation and supervision and applies compliance measures with due diligence requirements and record-keeping as stipulated under this law and regulation.
• D- Take into account the information available to the Permanent Committee for Combating Money Laundering, the General Directorate of Financial Investigations, and regulatory authorities regarding high-risk countries identified.
• The ultimate responsibility for compliance with all requirements stipulated in the law and this regulation lies with the financial institutions and designated non-financial businesses and professions employing the other party.

12/7- When a financial institution is used by another financial institution, whether local or foreign, confidentiality requirements imposed under other regulations shall not prevent the financial institution from exchanging information as required with the employing party to ensure that the employed financial institution applies appropriate standards.

13/7- Financial institutions and designated non-financial businesses and professions that use another party which is part of the same group must consider that the other party meets the conditions mentioned in Articles 10/7 and 11/7, provided that the group applies due diligence and record-keeping measures under the law and this regulation, that the implementation of anti-money laundering policies at the group level is supervised by a competent authority, and that any high risks associated with countries are adequately mitigated through group-specific policies and controls.

14/7- Financial institutions and designated non-financial businesses and professions must determine the extent and depth of applying due diligence measures under Article (Seven) of the law based on the types and levels of risks posed by a specific client or business relationship. When money laundering risks are high, the financial institutions and designated non-financial businesses and professions shall apply enhanced due diligence procedures consistent with the identified risks. When money laundering risks are low, financial institutions and designated non-financial businesses and professions may take simplified due diligence measures provided there is no suspicion of money laundering, and in such cases, simplified due diligence shall not be allowed. The simplified measures must be proportionate to the low risks.

1/8- A person assigned to high public duties in the Kingdom or a foreign country, or senior administrative positions, or a position in one of the international organizations, is considered a politically exposed person at risk, and this includes the following positions or functions:

• A- Heads of states or governments, senior politicians, government officials, judicial or military officials, senior executive officers in state-owned companies, and prominent officials in political parties.
• B- Presidents and directors of international organizations, their deputies, board members, or any similar position.

2/8- The obligations stipulated in Article (Eight) of the Law apply to the family members of the politically exposed person at risk, and persons close to him.

3/8- Family members of the politically exposed person at risk: are any natural person related to the politically exposed person at risk by blood or marriage up to the second degree of kinship.

4/8- A person close to the politically exposed person at risk: is any natural person who shares benefits with a politically exposed person at risk through a genuine partnership of a legal entity or legal arrangement, or has a close working relationship with him, or is the beneficial owner of a legal entity or legal arrangement owned or effectively controlled by a politically exposed person at risk.

5/8- Approval from senior management must be obtained before establishing or continuing a working relationship with the foreign politically exposed person at risk, and all reasonable measures must be taken to identify the source of his wealth and funds, and strict and ongoing due diligence measures must be applied to the working relationship. This applies to the local politically exposed person at risk when the money laundering risks are high.

6/8- The financial institution must take reasonable measures to determine whether the beneficiary or the beneficial owner of the insurance document related to protection and/or savings, or insurance documents related to investment, before paying compensation under those documents or before exercising any rights related to those documents. If it is found that the beneficiary or beneficial owner is a politically exposed person at risk, senior management must be notified before paying compensation under this policy or before exercising any rights related to the policy, a thorough examination of the business relationship must be conducted, and consideration should be given to filing a suspicious transaction report with the General Directorate of Financial Investigations.

9/1

• Before entering into a cross-border correspondent relationship, a financial institution shall apply the

  following risk mitigating measures:

  • a. gather sufficient information about the respondent institution to understand fully the nature of the

    respondent’s business, and determine from publicly available information the reputation of the

    institution and the quality of supervision, and whether the respondent institution has been subject to

    a money laundering investigation or regulatory action;

  • b. assess the respondent institution’s anti-money laundering controls;

  • c. obtain approval from senior management before establishing new correspondent relationships; and

  • d. clearly understand the respective anti-money laundering responsibilities of each institution.

  • e. Reach satisfactory convention that a respondent financial institution does not allow the use of its

    account by shell banks.

9/2

• Where a financial institution registered and licensed in the Kingdom enters into a correspondent relationship

  in order to receive services from a foreign correspondent financial institution, confidentially requirements

  under Saudi law shall not preclude the financial institution from providing to the foreign institution the

  information and documents required for the foreign institution to satisfy itself that the conditions under 9/1

  (a) and (b) are met.

1/10- Article (Ten) of the Law shall apply to external and internal wire transfers in any currency, including sequential payments and cover payments received, sent, or executed by a financial institution in the Kingdom. This also includes cases where a credit card, debit card, prepaid card, mobile phone, or any other digital device, whether prepaid or postpaid, is used in the same capacity to execute a money transfer from one person to another. The scope of the article does not include the following:

• A- Transfers resulting from a transaction made using a credit card, debit card, prepaid card, mobile phone, or any other digital device, whether prepaid or postpaid, solely for the purchase of goods or services, provided that the credit card number, debit card number, or prepaid card number accompanies the transfer resulting from the transaction.
• B- Transfers constituting a transfer or clearing between two financial institutions where the ordering party and the beneficiary are financial institutions acting on their own behalf.

2/10- The information of the transfer originator must include:

• A- The full name of the transfer originator.
• B- The purpose of the transfer.
• C- The account number of the transfer originator used to conduct the transaction; if no account exists, a special transfer number that allows tracking of the transaction must be included.
• D- The address of the transfer originator or identity proof number or client identification number or place and date of birth.

3/10- The information of the transfer beneficiary must include:

• A- The full name of the beneficiary.
• B- The account number of the beneficiary used to conduct the transaction; if no account exists, a special transfer number that allows tracking of the transaction must be included.

4/10- Financial institutions engaged in wire transfer activities must add the required information of the transfer originator and beneficiary in every wire transfer and verify it. In case of suspicion, a report must be made in accordance with Article (Fifteen) of the Law. If the financial institution is unable to comply with this paragraph, it must not execute the wire transfer.

5/10- In cases where several individual wire transfers to outside the Kingdom from one transfer originator are aggregated into a consolidated transfer to beneficiaries, the financial institution initiating the transfer must ensure that the information attached to the transfer includes the verified information of the transfer originator, in addition to the complete information of the beneficiary, so that it can be fully traced within the country where the beneficiary is located, including the transfer originator’s account number and the transfer’s reference number.

6/10- Regarding local wire transfers, the requirements mentioned in Article 3/10 shall apply unless the financial institution initiating the transfer is able—by other means—to provide all information related to the transfer originator and beneficiary to the receiving financial institution or the competent authorities. In this case, the financial institution initiating the transfer may include the account number or the special transfer number that links the transaction to the relevant information about the transfer originator or beneficiary. The financial institution initiating the transfer must provide all information related to the transfer originator and beneficiary within three working days of receiving a request for such information from the receiving financial institution or the competent authority.

7/10- The financial institution must retain all information related to the transfer originator and beneficiary in accordance with Article (Twelve) of the Law.

8/10- In cases of wire transfers outside the Kingdom, the intermediary financial institution in the payment chain must ensure that all information related to the transfer originator and beneficiary remains with the wire transfer. It must also retain all information related to the transfer originator and beneficiary in its records in accordance with the requirements of Article (12) of the Law.

9/10- In cases where technical restrictions prevent retaining the information attached to the wire transfer outside the Kingdom related to the transfer originator or beneficiary with the relevant local wire transfer data, the intermediary financial institution must keep a record containing all information received from the financial institution initiating the transfer or from an intermediary institution, for a period of ten years from the date of the transaction’s completion or account closure.

10/10- Intermediary financial institutions and financial institutions receiving wire transfers from outside the Kingdom must establish and implement procedures to:

• A- Identify wire transfers lacking the required information regarding the transfer or beneficiary.
• B- Determine cases of executing, rejecting, or suspending the wire transfer due to lack of required information about the transfer originator or beneficiary based on risk.
• C- Conduct appropriate follow-up based on risks, which may include restricting or terminating the business relationship.

11/10- The financial institution receiving the wire transfer from outside the Kingdom must take reasonable measures to identify those transfers lacking the required information regarding the transfer originator or beneficiary. Such measures may include follow-up procedures after execution or follow-up at the time of execution where possible. If the beneficiary’s identity has not been previously verified, the receiving institution must verify the beneficiary’s identity and retain this data in accordance with Article (Twelve) of the Law.

12/10- The confidentiality requirements stipulated under local regulations shall not prevent the financial institution from exchanging information with other local or foreign institutions processing any part of the transaction as required to comply with the provisions of this article.

1/14- Policies, procedures, and internal controls must be commensurate with the nature and size of the financial institutions' businesses, and the specified non-financial businesses and professions, and must be sufficient to manage and mitigate risks identified at the national or supervisory level, or through risk assessments, and shall include the following elements:

• A- Due diligence measures as required under this Law or Regulation, including risk management procedures for business relationships prior to completing the verification process.
• B- Procedures for reporting transactions.
• C- Appropriate compliance management arrangements for anti-money laundering, including the appointment of an anti-money laundering compliance officer at the senior management level.
• D- Adequate screening procedures to ensure high standards when hiring employees.
• E- Continuous employee training programs.
• F- An independent audit function to test the effectiveness and adequacy of internal policies, controls, and procedures related to anti-money laundering.

2/14- The group must implement an anti-money laundering program across all its parts, applying internal policies, controls, and procedures to all its branches and subsidiaries in which it holds a majority of shares, and ensure their effective implementation. In addition to the elements mentioned in Article 1/14, the policy applied within the group must include information sharing among group members for the purposes of customer due diligence and money laundering risk management, and providing information about customers, accounts, and transactions to compliance, audit, or anti-money laundering functions at the group level, when necessary for anti-money laundering purposes, including information and analysis of transactions or activities that appear unusual or suspicious; in addition to maintaining the confidentiality and use of exchanged information.

Branches and subsidiaries must be provided with customer and account information and analysis of transactions or activities that appear unusual or suspicious through compliance, audit, or anti-money laundering functions at the group level, when appropriate and relevant to risk management, taking into account the sensitivity and importance of the information for managing anti-money laundering risks, in consideration of the Personal Data Protection Law and related regulations and instructions.

3/14- In cases where anti-money laundering requirements in a foreign country are less stringent than those imposed under this Law and these Regulations, financial institutions and specified non-financial businesses and professions must ensure that their branches and subsidiaries in which they hold a majority of shares operating in that country apply the requirements stipulated in this Law and these Regulations. If the foreign country does not permit the application of the requirements set forth in this Law and these Regulations, financial institutions and specified non-financial businesses and professions must notify the supervisory authority in the Kingdom of the matter and take additional measures to manage and appropriately mitigate the money laundering risks associated with their operations abroad. Financial institutions and specified non-financial businesses and professions must comply with any instructions they receive from the competent supervisory authority in the Kingdom in this regard.

1/15- The requirements for reporting suspicious transactions stipulated in Article (Fifteen) of the Law include the following:

• A- Financial institutions and designated non-financial businesses and professions shall report directly to the General Directorate of Financial Investigations when they suspect or have reasonable grounds to suspect that funds or some of them represent proceeds of criminal activity or are connected or related to money laundering operations, including attempts to carry out such operations.
• B- Financial institutions and designated non-financial businesses and professions shall report directly to the General Directorate of Financial Investigations when they suspect or have reasonable grounds to suspect that any complex, large, or unusual transactions or deals are related or connected to money laundering operations, including attempts to carry out such operations. The report must include details of those facts before being submitted to the General Directorate of Financial Investigations, and they must suspend the execution of the transaction according to the evidence and guidelines issued by the General Directorate of Financial Investigations in coordination with supervisory authorities pursuant to paragraph (Q) of Article 1/17 of the Regulation.
• C- Financial institutions and designated non-financial businesses and professions are obligated to provide the General Directorate of Financial Investigations with all required information, data, documents, and records urgently, completely, and accurately, in response to additional information requests within the period specified by the Financial Investigations, in accordance with paragraph (2) of Article Fifteen of the Law.

2/15- The specific requirements for reporting transactions mentioned in Article (Fifteen) of the Law apply to all transactions regardless of their amounts.

3/15- Financial institutions and designated non-financial businesses and professions shall establish indicators signaling suspicion of money laundering operations. These indicators must be continuously updated according to the developments and diversification of methods used to commit such operations, in compliance with what is issued by supervisory authorities and the General Directorate of Financial Investigations in this regard.

4/15- Reporting to the General Directorate of Financial Investigations shall be made using the form approved by it, and the report must include at least the following information:

• A- Names of the persons whose transactions are suspected, along with information about their addresses and phone numbers.
• B- A statement of the suspicious transaction, its parties, the circumstances of its discovery, and its current status.
• C- Identification of the amount involved in the suspicious transaction and the related bank or investment accounts.
• D- The reasons for suspicion relied upon by the employee responsible for reporting.
• The General Directorate of Financial Investigations shall determine the manner in which the report stipulated in this Law should be submitted, and the information that forms part of the reporting report.