Since 2018, Saudi Arabia has taken series of actions to step up the fight against money laundering and terrorist financing, which follow up process (Mutual Evaluation) has been carried alongside in line with the FATF procedure, the country has sent a report to FATF outlining actions taken over time.
FATF has re-rated the country based on its new progress, particularly on these recommendations:
6- Targeted financial sanctions related to terrorism and terrorist financing from partially compliant to largely compliant
7 – Targeted financial sanctions related to proliferation – from partially compliant to largely compliant.
The assessment also considered how Saudi Arabia has remained compliant with the recommendations of FATF and was found to be largely compliant on 21, compliant on 17 out of the 40 recommendations, and partially compliant on 2.
