Saudi Arabia

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

18th June 2019

Pompeo blocks inclusion of Saudis on U.S. child soldiers list – sources

Secretary of State Mike Pompeo has blocked the inclusion of Saudi Arabia on a U.S. list of countries that recruit child soldiers, dismissing his experts’ findings that a Saudi-led coalition has been using under-age fighters in Yemen’s civil war, according to four people familiar with the matter. The decision, which… Read More

14th June 2019

Trump administration reviewing foreign money to US colleges

AP — The U.S. Education Department has opened investigations into foreign funding at Georgetown University and Texas A&M University as part of a broader push to monitor international money flowing to American colleges. Both universities are being ordered to disclose years of financial records amid concerns they have not fully… Read More

9th April 2019

Qatar sues Luxembourg, UAE, Saudi banks in FX manipulation case

Qatar said on Monday it had filed lawsuits against three banks, accusing them of using what it called overseas currency manipulation to sabotage its economy in the wake of an Arab boycott against the country in 2017. The cases, filed in London and New York, name Luxembourg-based Banque Havilland, the… Read More

7th March 2019

EU states block blacklisting Saudi, Panama over dirty money

The 28 member states of the European Union all backed a decision on Thursday to reject a proposal from the EU executive to add Saudi Arabia to a blacklist of countries suspected of being lax on terrorist financing and money laundering. The decision comes after pressure from Riyadh and other… Read More

4th March 2019

EU states block putting Saudi Arabia, U.S. territories on dirty-money list

European Union member states unanimously rejected on Friday a proposal to blacklist Saudi Arabia and four U.S. territories for lax controls on terrorism financing and money laundering, sources told Reuters. Saudi Arabia, a major importer of EU weapons and goods, had lobbied against being branded a “high-risk” country, as had… Read More

28th February 2019

After Saudi king letter EU states move to block dirty-money list

The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia as well as Puerto Rico and three other U.S. territories, could be blocked by EU governments under a procedure launched on Thursday, two EU diplomats told Reuters. Some governments opposed adopting the provisional list on Thursday, triggering a… Read More

21st February 2019

Britain urges Germany to ease curbs on arms sales to Saudi

AP — Britain’s top diplomat has urged Germany to relax its ban on arms sales to Saudi Arabia because they are affecting U.K. sales of weapons to — and by extension its influence with — the oil-rich kingdom. The German weekly Der Spiegel reported Wednesday that British Foreign Minister Jeremy… Read More

15th February 2019

EU publishes money laundering blacklist, urges banks to apply customer due diligence (CDD)

The European Commission on Tuesday adopted a list of countries it says has weak anti-money laundering and terrorist financing regimes, and urged banks to increase customer due diligence (CDD) checks on customers and firms from the blacklisted states. The list was established after an ‘in-depth’ analysis, the Commission explained, and… Read More

11th February 2019

Serious Fraud Office: British exec convicted of bribery in £3 billion Saudi deal

A former sales boss at a London firm has pleaded guilty over allegations he made corrupt offers to influence officials in Saudi Arabia to award the company contracts worth billions. British national David Lufkin, who worked as Global Head of Sales for Petrofac International Limited, is now awaiting sentencing… Read More

8th February 2019

Saudi crown prince had threatened to use ‘bullet’ on Khashoggi – NY Times

A year before Saudi journalist Jamal Khashoggi was killed, Crown Prince Mohammed bin Salman told an aide he would use “a bullet” on the journalist if he did not return home and end his criticism of the government, the New York Times reported on Thursday. The crown prince’s comments to… Read More

Must Read

U.S. blocked Myanmar junta attempt to empty $1 billion New York Fed account

Jersey trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

UBS May Use Money-Launderer Case to Appeal $5.4 Billion Penalty

U.S., U.K. Weigh More Russia Sanctions, Possibly Targeting Debt

U.S. Weighs Sanctions Against Lebanon Central Bank Chief