Al-Marsad newspaper: The lawyer specializing in financial issues, Assem Al-Issa, revealed the penalty for someone who owns more than 60,000 riyals in the event of his travel and did not disclose it.
During his intervention on the “Al-Ikhbariya” channel, he said that travelers, whether they are Saudis or non-Saudis, must disclose the amounts in their possession.
He pointed out that if the traveler does not disclose and the sources of funds are legitimate, he will be punished with a fine of up to 25% of the amount and 50% for the second time.
He added, it requires the traveler to prove the source of the money and that it is legitimate, otherwise there will be a suspicion of money laundering.
Video | Lawyer specialized in financial cases, Assem Al-Issa:
Whoever owns more than 60,000 riyals if he travels and does not disclose it, shall be punished with a fine of up to 25% of the amount and 50% for the second time.#day_news#news pic.twitter.com/2CcXQPrkMO
– News Channel (@alekhbariyatv) August 13, 2022