Kingdom Ranks Top in Region for Combating Money Laundering

July 7, 2010 - Saudi Arabia ranks first in the Middle East and among the top 10 of the G-20 countries in terms of combating money laundering and terrorist financing, according to a report by the Financial Action Task Force (FATF). The organization, which is an inter-governmental body based at the headquarters of the Organization for Economic Cooperation and Development, in Paris, France, commended the Kingdom for its work in enacting and enforcing policies that halt illegitimate financial transactions. The rankings were awarded at the FATF Plenary meeting held in Amsterdam, The Netherlands.