The Saudi prosecution has referred two expatriates to trial on charges of money laundering worth SR2.4 million, according to an official source.

Sources said the pair had deposited SR2.4 million in cash into bank accounts belonging to commercial entities, concealing the origin and ownership of the money.

It turned out that the money was an outcome of “crimes and violations” of several laws in the kingdom.

Saudi prosecutors handling economic crimes charged the two expatriates with money laundering following investigations.

A lawsuit has been filed against them with the competent court backed with evidence, the source said, adding that legal action will also be taken against the commercial entities involved.

Neither the names nor the nationalities of the two defendants were revealed.

In recent years, Saudi Arabia has stepped up anti-money laundering efforts and toughened related penalties.

Money laundering is punishable under Saudi law with a maximum fine of SR7 million and up to 15 years in prison.

If the convict is a Saudi national, he/she is also barred from travelling outside the kingdom for a period equivalent to the given imprisonment term. The non-Saudi convict is deported from the country after serving the jail term.

Last week, Saudi prosecutors said an Asian expatriate had been caught trying to smuggle SR500,000 while leaving at an airport in the kingdom and was charged with money laundering.

The suspect had secretly hidden the cash in a suitcase as he tried to depart from the airport, an official source at the prosecution said.

After convicting two Arab expatriates of money laundering, a Saudi court sentenced them to six years in prison and ordered them to pay SR200,000 in fines.