Saudi Arabia Targeted by FATF for Lack of Suspicious Transaction Reports

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The international Financial Action Task Force (FATF) has launched an appraisal by the worldwide Budgetary Activity Team (FATF) into several Saudi Arabia transactions. The body will assess currency exchange desks; real estate ventures; even Bookkeepers and other non-financial related organisations.

These businesses are apparently not documenting enough suspicious activity reports, specifically related to terrorist financing. The FATF says the country needs to concentrate on catching large-scale ML and terrorist financiers.