Title: 13 Suspects Arrested in Saudi Arabia for SR22.6 Million Financial Fraud

Overview

• The Financial Fraud division of Saudi Arabia’s Public Prosecution has arrested 13 individuals for their involvement in a massive SR22.6 million (USD5.9 million) financial fraud case.

Accusations and Illegal Activities

• Money laundering, electronic fraud, and electronic transactions system violations were the primary accusations against the suspects.

The Fraud Scheme

• The suspects allegedly created fraudulent electronic links and illegally accessed victims’ government accounts.
• They issued authorizations without consent, leading to the defrauding of approximately SR16 million ($4.26 million) from bank accounts.
• Over SR600,000 in cash and various foreign currencies were stolen.

Consequences and Preventive Measures

• To prevent further damage, the authorities have frozen the suspects’ accounts and those of the suspected commercial entity.
• The public is advised to exercise caution when dealing with suspicious links or handling unofficial websites.
• Sharing personal or financial data with unknown entities is discouraged, and instances of financial fraud should be reported to the relevant authorities promptly.

Reaffirming the Commitment to Tackling Financial Crimes

• The Public Prosecution has emphasized its focus on addressing financial crimes and urged individuals to take necessary precautions.