Abdullah Zainal Alireza, Minister of Commerce and Industry, has asked companies and establishments to take precautionary measures to avoid being exploited in illegal activities such as money laundering and financing of terrorist activities. He said the control and surveillance authorities at the ministry will ensure enforcement of the rules relating to money laundering and financing of terrorism stressing that whoever fails to abide by these rules will be held accountable. In an urgent circular sent to the Saudi Council of Chambers of Commerce on Tuesday, Alireza said the ministry will periodically train anti-money laundering personnel to upgrade their skills. Additionally, he said the ministry will launch an intensive awareness campaign to enlighten the public about the dangers stemming from such illicit activities besides exchanging information with the bodies involved in combating this menace. Companies were urged to benefit from the advanced and sophisticated technology in the field to detect money laundering.
