Al-Faris: Tracking funds and uncovering their paths is a key pillar in combating corruption and pursuing its proceeds

As part of its commitment to developing tools for detecting corruption and tracing illicit proceeds, a delegation from the National Anti-Corruption Authority (Nazaah) visited the Saudi Financial Intelligence Unit (SAFIU), under the General Presidency of State Security. The delegation was received by SAFIU’s Director General, Major General Mohammed bin Abdulrahman Al-Muhanna, with Dr. Nasser Aba Al-Khail, Vice President for International Cooperation at the National Anti-Corruption Commission in the Kingdom of Saudi Arabia, in attendance.

The delegation was led by Nazaah’s Chairperson, Dr. Rana Al-Faris, and included Deputy Chairman Dr. Majad Al-Daihani, Board Member Dhiya Issam Al-Otaibi, Assistant Secretary-General of the Corruption Detection and Investigation Sector Fawaz Al-Mutairi, and Abdulrahman Al-Wazan, representative of the International Cooperation Department.

The delegation reviewed Saudi Arabia’s experience in receiving and analyzing reports of suspicious financial transactions, leveraging smart programs and modern, advanced technologies to detect financial suspicions, as well as collaborating and integrating with all relevant government entities to ensure information interoperability and support more accurate and effective outcomes.

Dr. Al-Faris emphasized that tracing funds and uncovering their trails constitute a cornerstone in combating corruption, noting that recovering criminal proceeds requires specialized capabilities in financial data analysis, information linking, and coordination among relevant authorities. She added, “Combating corruption is not complete merely by exposing the offense; it is essential to know where the money went, how it moved, and who benefited from it. The stronger the ability to answer these questions, the more effective the pursuit and recovery of illicit proceeds become.”

She clarified that what distinguishes this Saudi experience is the combination of advanced technical tools and institutional integration, achieved by employing smart programs to analyze information and link it with data available from relevant entities. This approach helps uncover relationships between transactions and associated parties, providing a more comprehensive picture of fund flows.

Dr. Al-Faris noted that countering sophisticated methods of concealing funds requires continuous development of detection and analysis tools, along with close cooperation among relevant authorities, where financial information is integrated with investigative and inquiry activities within each entity’s jurisdiction and legal frameworks.

She expressed her appreciation to Major General Mohammed bin Abdulrahman Al-Muhanna for the warm reception, emphasizing the importance of exchanging expertise in leveraging modern technologies and developing institutional cooperation to detect illicit financial flows and pursue corruption proceeds.

For his part, Dr. Al-Daihani stressed that the importance of financial analysis lies in transforming fragmented data into information that enables competent authorities to understand suspicious transactions and uncover links between individuals and related entities. He added, “A single financial transaction may not reveal the full picture, but analyzing and linking it with other transactions and information may reveal patterns that warrant further examination and investigation.”

“Employing smart technologies, alongside information integration among entities, enhances the accuracy of this analysis and improves the efficiency of detecting financial suspicions.” He clarified that linking with relevant government entities plays a crucial role in supporting financial investigations, as it provides information that aids in completing analysis and verifying related links, emphasizing that the effectiveness of this system relies on the integration of technology, specialized expertise, and data quality. He noted that studying the Saudi experience allows for leveraging its expertise in analyzing reports and coordinating with local entities and peer units internationally, thereby supporting the development of technical capabilities and understanding the money trails linked to corruption suspicions. The General Directorate of Financial Investigations in Saudi Arabia is responsible for receiving reports of suspicious financial transactions from specified financial institutions and non-financial businesses and professions, analyzing the information and data, preparing related reports, referring cases that warrant action to competent authorities, and exchanging information and expertise locally and internationally. The visit is part of the “Nizahat” delegation program in the Kingdom of Saudi Arabia, which includes studying specialized institutional experiences whose roles are integrated in preventing corruption, detecting it, pursuing its proceeds, and protecting public funds.