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AML, Financial Crime, MEA

Saudi money laundering gang jailed for 24 years and fined SR 140 Million (€32 Million) in major bust

By Elizabeth Hearst for AMLi

A Saudi money laundering gang has been jailed for 24 years after allegedly laundering 140 Million Riyals (€32 Million) in a major money laundering operation.

Speaking to the Gulf National, a source from the country’s Public Prosecution revealed the gang “composed of a citizen and three expatriates”, who “shared roles among them”.

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