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The Kingdom of Saudi Arabia (KSA) established its Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) regime officially with the issuance of the Anti-Money Laundering Statute in 2003 and its Implementing Regulations in 2005. The legal AML framework is quite robust; however, the CFT legal framework is not as developed. In addition, the effectiveness of the AML and CFT systems needs improvement.




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