Analysis of Saudi regulatory developments and practical guidance for security and risk leaders.
SAMA examiners increasingly benchmark correspondent-banking due diligence against the Wolfsberg Questionnaire, yet many banks treat it as a vendor form rather than an audit template. This article identifies the twelve questionnaire sections that examiners verify against internal KYC documentation and explains the evidence format SAMA expects for each.
SAMA's Counter-Fraud Framework sets expectations but does not prescribe implementation methods. This clause-by-clause guide shows how ISO 37001 controls satisfy SAMA requirements and where Saudi-specific additions are needed.
Heads of risk and fraud at Saudi payment service providers face a complex decision when replacing legacy rule engines or building their first fraud platform. This article shares the vendor-neutral scoring matrix used in fraud management system selection for Saudi institutions, covering SAMA CFF requirements, real-time latency, false-positive benchmarks, and total cost of ownership.
FATF assessors test whether your monitoring scenarios detect the typologies in your own risk assessment. This article sets out three validation gaps they tend to expose and a back-testing method to measure coverage before the evaluation.
New buy-now-pay-later products carry embedded fraud vectors that emerge only after launch. This article identifies three transaction-behaviour patterns that SAMA Counter-Fraud Framework Article 2.4 requires product committees to assess during design, and shows how a fraud-risk assessment scores each pattern before the product goes live.
PCI DSS v4.0 Requirement 8.4.2 demands multi-factor authentication for the cardholder environment, but Nafath alone does not prove the device initiating the payment is bound to the authenticated identity. This article walks through four test scenarios that expose gaps in device binding and transaction signing, and shows the evidence QSAs expect.
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SAMA, NCA and SDAIA changes and what they mean for your institution — once a month.
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