Saudi Arabia: Money laundering cases shoot up by 120%, says report


The Monetary Investigation Unit (MIU) in the Ministry of Interior received 3,919 notifications about money-laundering in the past two years, and 419 notifications about financing terrorism.
In all, 223 notifications related to financial crimes and 88 concerning financing terrorism were shifted to the investigation authorities.

An MIU report said there had been a significant increase of 120 percent in the number of notifications that were registered between 2008 and 2012. The number of notifications regarding money-laundering referred to the investigation authorities decreased in 2012 compared to 2011. In 2012, the number of cases referred was 106, as compared to 117 in 2011. Notifications regarding terror financing increased from 202 in 2011 to 217 in 2012, and 46 cases were referred to investigation authorities 2012 compared to 42 in the previous year.

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