Saudi Arabia

The Saudi Arabia Financial Investigation Unit (SAFIU), alternatively referred to as the General Directorate of Financial Intelligence, is the Kingdom's national financial intelligence body that works independently with the objective of securing the financial sector from any form of criminal activity. This organization functions under the direct supervision of the Presidency of State Security [1.41]. The Saudi Arabia Financial Investigation Unit plays an important role in fighting against money laundering and other kinds of financial crimes within the country. The unit acts as a link between the private financial sector and law enforcement agencies.

The Financial Investigation Unit of Saudi Arabia (SAFIU) is the main national agency that specializes in detecting suspicious transactions to counter money laundering and terrorism financing. The unit acts as the obligatory point of contact for all domestic banks, investment companies, and high-value merchants, which are obligated to report any suspicious transactions through Suspicious Transaction Reports (STRs). The SAFIU uses sophisticated data analytics to follow the trail of complex money movements and detect potential financial networks and threats. After detecting financial crimes and threats, the agency distributes intelligence to law enforcement bodies, prosecutors, and courts in order to implement asset freezes, corporate investigations, and prosecution of offenders. Besides, SAFIU coordinates internationally by providing cross-border financial data with international partners and implementing FATF international standards in the Kingdom.