Saudi authorities have been keen on strengthening legislative and regulatory frameworks to combat money laundering crimes, confirmed Deputy Governor for Supervision at the Saudi Central Bank (SAMA) Yazeed AlSheikh. Speaking at the 14th Compliance and Anti-Money Laundering (CAML) seminar in Riyadh, AlSheikh reaffirmed that the Kingdom attaches great importance to combating financial crimes, including money laundering and terrorism financing. The deputy governor stressed that money laundering crimes and their accelerating developments constitute one of the major challenges facing the international community and governments worldwide. It also negatively impacts the stability of financial and economic systems, explained AlSheikh, highlighting how this also threatens international peace and security. AlSheikh stated that holding the CAML seminar reflects Saudi Arabia’s commitment to fulfilling its international obligations. The seminar presents an appropriate opportunity for practitioners working in concerned authorities, financial institutions, and specific non-financial businesses and professions to learn about the best international experiences and practice in the field, added AlSheikh. The exchange of experiences will strengthen and build the technical and knowledge capabilities of practitioners in the Kingdom, he reaffirmed. Moreover, AlSheikh highlighted several important issues related to legislation and challenges related to combating proliferation financing and Internet fraud crimes. CAML is organized by SAMA, Anti-Money Laundering Permanent Committee (AMLPC) and Refinitiv (An LSEG Business) and is held under the patronage of Ayman Alsayari, Governor of SAMA. The annual event welcomes several regional and international speakers from Financial Institutions, Regulators, Technology firms and Advisory Groups. It is recognized as a valuable platform for an exchange of ideas and information between the Kingdom’s business leaders, financial institutions and local professionals. CAML, in five sessions, tackled the topics including the latest global regulatory developments, the latest challenges in proliferation financing, cyber-enabled fraud crime, financial inclusion, and outsourcing AML activities.