Themis, a UK-based financial crime prevention company, has officially launched Tathabbat, an end-to-end anti-money laundering (AML) firm in Saudi Arabia to strengthen the country’s economic expansion.
This initiative aligns with Vision 2030 and boosts Saudi Arabia’s efforts to adopt advanced know-your-finance (KYF) standards.
Tathabbat provides Saudi Arabian financial institutions and designated non-financial businesses and professions (DNFBPs) with innovative KYF and know-your-customer (KYC) tools.
The new firm aims to strengthen AML and counter-terrorist financing (CFT) systems, bolstering transparency and regulatory compliance.
This effort comes as Saudi Arabia prepares for its 2026 evaluation by the Financial Action Task Force (FATF).
Tathabbat CEO Ali Alasiri said: “Saudi Arabia’s Vision 2030 is transforming the region into a global financial hub. We are thrilled to partner with Themis to introduce Tathabbat, which will provide essential KYF support for businesses in this rapidly evolving market.”
The technology that Tathabbat offers combines advanced intelligence, research, and data analytics to help businesses identify and manage KYF risks effectively.
The new firm offers robust protection through solutions powered by Themis’ expertise in AML/CFT technology and corporate intelligence.
Incorporated in Saudi Arabia, Tathabbat underscores Themis’ commitment to supporting businesses in the country, said the firm. It enables businesses to meet compliance standards while fostering resilience in a regulated global environment.
Themis CEO Dickon Johnstone said: “Our investment in Saudi Arabia is a testament to the strategic importance of this region. With Tathabbat, we are committed to building a safer financial ecosystem by providing local institutions with cutting-edge tools to fight financial crime.”
Themis announced the launch of its advanced financial crime risk management cloud service, hosted within Saudi Arabia, earlier this year.
It was specifically designed to address the region’s unique needs while adhering to regulatory requirements for data sovereignty, ensuring all customer data is stored and processed locally.
