The Anti-Money Laundering and Counter-Terrorism Financing Prevention Policy is one of the fundamental pillars of our financial oversight efforts, in accordance with the Saudi Anti-Money Laundering Law issued by Royal Decree No. M/31 dated 11/5/1433 AH (1433 A.H.), its implementing regulations, and all subsequent amendments to align with this policy. This policy defines the general responsibilities of all our employees and those with contractual relationships with us.
The preventive measures we take to combat money laundering and counter-terrorism financing crimes:
1- Identifying, understanding, and assessing the risks of money laundering and terrorist financing to which we may be exposed.
2- Making justified decisions regarding mitigating the risks of money laundering and terrorist financing related to products and services.
3- Enhancing capacity-building and training programs to enhance the efficiency of employees in line with the nature of their work in the field of combating money laundering.
4- Improving the efficiency of channels used for combating money laundering and improving the quality of customer identification and due diligence procedures.
5- Providing the necessary tools to help raise the quality and effectiveness of our work.
6- Developing awareness programs to raise employee awareness of anti-money laundering and counter-terrorism financing crimes. Relying on non-cash financial channels and taking advantage of their advantages to reduce the use of cash for expenses.
7- Identifying the beneficial owner, whether natural or legal, in financial transactions.
8- Seeking to establish electronic links with relevant entities to help verify the identity of suspect persons and amounts.
Responsibilities
This policy applies within our activities. All employees working under the company’s management and supervision are required to review, understand, and sign the anti-money laundering regulations and this policy, and to abide by its provisions when performing their duties and responsibilities. The Finance Department is responsible for raising awareness in this regard and providing all departments and divisions with a copy of it.
When contracting with others, we ensure that they adhere to and comply with the rules for combating money laundering and terrorist financing..
Changes and amendments
We reserve the right to modify this Policy or its terms related to the Services at any time at our discretion. When we do, we will revise the updated date at the bottom of this page, post a notification within the Services, send you an email to notify you. We may also provide notice to you in other ways at our discretion, such as through the contact information you have provided.
An updated version of this Policy will be effective immediately upon the posting of the revised Policy unless otherwise specified. Your continued use of the Services after the effective date of the revised Policy (or such other act specified at that time) will constitute your consent to those changes.
Acceptance of this policy
You acknowledge that you have read this Policy and agree to all its terms and conditions. By accessing and using the Services you agree to be bound by this Policy. If you do not agree to abide by the terms of this Policy, you are not authorized to access or use the Services.
Contacting us
If you have any questions, concerns, or complaints regarding this Policy, we encourage you to contact us using the details below:
Policy@exit.sa