The responsibility of banks for contributing to the crime of money laundering in accordance with Saudi regulations.

Due to the devastating effects of terrorism crimes, smuggling and trade of contraband, antiquities, drugs, weapons and people, many countries, including the Kingdom of Saudi Arabia, have taken the initiative to issue the Anti-Money Laundering Law No. (M/39) dated 25/6/1424H corresponding to 24/8/2003 AD and its executive regulations, the Banking Control Law No. (M5) dated 22/2/1336 AH, and the Anti-Commercial Concealment Law No. (M/49) dated 16/10/1409 AH, in addition to many ministerial decisions and directions related to Relevance. It has also established an independent unit to combat money-laundering at the Ministry of Commerce, as well as a unified anti-money-laundering and liaison body at the Saudi Central Bank under the name of the Financial Intelligence Unit. All these governmental efforts were in conformity with the text of Article (14/1) of the United Nations Convention against Corruption of 2003, which states: Each State Party to the Convention shall establish a comprehensive internal system for the supervision and supervision of banks and non-bank financial institutions, including natural or legal persons providing formal or irregular services in the field of transfer of funds or all that has value, and where appropriate to other bodies particularly vulnerable. to launder money within its competence in order to deter and detect all forms of money-laundering, and that regulation shall emphasize requirements for the identification of customers and beneficial owners, where appropriate, record-keeping and the reporting of suspicious transactions."