Al-Faris: Tracking funds and 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 tracking its proceeds, a delegation from the General Commission for the Prevention of Corruption (Nazaha) 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, in the presence of Dr. Nasser Aba Al-Khail, Vice President for International Cooperation at the Saudi Anti-Corruption Commission.

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

The delegation reviewed Saudi Arabia’s experience in receiving and analyzing reports of suspicious financial transactions, and in leveraging smart programs and modern, advanced technologies to detect financial suspicions. It also examined cooperation and integration with all relevant government entities, which enables information integration and supports more accurate and effective outcomes.

Dr. Al-Faris emphasized that tracking funds and uncovering their trails constitute a fundamental pillar in combating corruption. She noted that recovering illicit proceeds requires specialized capabilities in financial data analysis, information linking, and coordination among relevant authorities. “Combating corruption is not complete by merely exposing the incident; 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 added.

She explained 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 at relevant entities. This approach helps uncover relationships between transactions and associated parties, providing a more comprehensive picture of financial flows.

Dr. Al-Faris pointed out that countering sophisticated methods of concealing funds requires continuous development of detection and analysis tools, along with close cooperation among relevant authorities. This cooperation integrates financial information 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 expose 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 is a crucial element in supporting financial investigations, as it provides information that helps complete the analysis and verify 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 international peer units, 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 reports on them, referring those that warrant action to the competent authorities, as well as exchanging information and expertise locally and internationally. The visit is part of the program of the “Nizaha” delegation in the Kingdom of Saudi Arabia, which includes studying the experiences of specialized institutions whose roles are integrated in preventing corruption, detecting it, pursuing its proceeds, and protecting public funds.