SAMA (Saudi Arabian Monetary Authority) Deputy Governor has intructed all the Banks to monitor all accounts with irregular transactions on its holder’s name.
This message was directed to all the banks in the kingdom of Saudi Arabia to report any account with transactions disproportionate to its holder’s income to place a set of regulations to fight illegal transactions of Expatriates or to control commercial activities of Expatriates.
All the Saudi Banks & Money Exchanges must report any suspected or fraudulent financial transaction to General Administration for Financial Investigation at the Presidency of State Security asper the rules for fighting Money laundering issued by SAMA
So, its important for all the expatriates to carry sources of any financial transactions done in their account to avoid any issues.
