Saudi hopes purge will help push to join anti-illicit funding body
  • 6 years ago
Last month, Saudi Arabia detained dozens of senior business people and government officials in a campaign to crack down on corruption spearheaded by Crown Prince Mohammed bin Salman. The kingdom hopes that the campaign will improve its chances of joining the Financial Action Task Force, a global body dedicated to combating illicit money flows. In 2010, Saudi Arabia's last attempt to join the inter-governmental body, which has 37 members, was unsuccessful. And as one of only two G20 nations which is not a FATF member, the country now looks to shake off a reputation for being a breeding ground for corruption and terror financing.
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