Title: Saudi Authorities Net 13 in Major Financial Fraud Case, SR22.6 Million Stolen

Arrest of Suspects Involved in Money Laundering and Fraud Network

Riyadh - In a significant crackdown on financial crimes, Saudi authorities have apprehended 13 individuals suspected of being part of a money laundering and fraud network. The suspects are believed to have defrauded victims of approximately SR16 million and seized over SR600,000 in cash and other assets.

Investigation and Discoveries

The Financial Fraud wing of the Public Prosecution launched a comprehensive investigation into this criminal organization. The investigation unearthed that the suspects had engaged in:

1. Money laundering
2. Electronic fraud
3. Violations of the electronic transactions system

The investigation revealed that the criminals had created:

• Fraudulent electronic links
• Unlawfully accessed victims’ government accounts
• Issued illegal authorities
• Transferred or concealed funds

Concealing and Transferring Stolen Funds

The investigation further discovered that the criminals had seized financial amounts from victims’ bank accounts and:

• Transferred them to other accounts
• Manipulated those funds through a commercial entity
• Concealed the source of the funds
• Facilitated the transfer of funds outside the Kingdom

Penalties and Account Freezing

The Public Prosecution has referred the suspects to the competent court and demanded the harshest penalties provided by the law. Their accounts and the commercial entity’s accounts have been frozen.

Public Prosecution’s Renewed Pledge

This financial fraud case comes as the Public Prosecution renews its pledge to fight financial crimes and protect citizens from falling victim to fraudulent activities.

Caution Against Fraudulent Links

The Public Prosecution urges the public to exercise caution when confronted with fraudulent links and immediately report any instances of financial fraud to the relevant authorities.

Dangers Associated with Fraudulent Links

The criminals in this case devised a scheme where they created fraudulent links, which led to various dangers including dealing with:

• Unofficial websites
• Sharing personal or financial data with unverified entities

Saudi Authorities

The officers from Saudi’s law enforcement agencies.

Suspects

Individuals under investigation for involvement in financial fraud and money laundering.

Financial Fraud wing

An arm of the Saudi Public Prosecution responsible for investigating financial crimes.

Public Prosecution

The Saudi authority that takes legal action against individuals and organizations for criminal activities.

Public Warning

The Public Prosecution’s call for caution to the public against falling victim to fraudulent activities.