Saudi courts have handled 319 money laundering cases during 2015, involving 111 Saudis and 208 expatriates, according to a report released by the Justice Ministry. The cases were related to forgery, bribery, unauthorized transfer of money, depositing of money in others' accounts, blackmailing, drug smuggling, burglary and armed robbery. Legal expert Dr. Yousuf Al-Jubair explained the Anti-Money Laundering Act and the various illegal activities that come under its purview. "It covers all financial transactions and money transfers involving proceeds of some form of criminal or unlawful activity," Al-Jubair said quoting one of the articles in the Act. "Possession of such illegal money as well as its use, preservation, receiving, transfer, and concealing the nature of such wealth and proceeds will be considered money laundering," Al-Jubair added. Providing consultancy, support, advice, encouragement, facilitation, involvement, cover-up and starting of such illegal financial activities would also come under the law. "All criminal and illegal financial activities have been brought under the purview of Money Laundering Act. Such criminal activities have been specified in the executive bylaws of the UN Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances and the International Convention for the Suppression of the Financing of Terrorism," Al-Jubair said. The UN convention issued in 1999 covers financing of terrorist acts, terrorists and terrorist organizations directly or indirectly using legal or illegal funds. Such crimes also include smuggling, production and illicit trade of drugs and other narcotics, as well as issuance and distribution of fake currency. "People involved in money laundering can be arrested anywhere in the world as it is considered an international crime. All governments including that of Saudi Arabia exert tremendous efforts to fight money laundering," Al-Jubair pointed out.
