Saudi Authorities Arrest 13 in Wide-Ranging SR22.6 Million Financial Fraud Case

A Significant Crackdown on Financial Crimes in Saudi Arabia

The Financial Fraud wing of the Public Prosecution in Saudi Arabia has spearheaded a meticulous investigation leading to the arrest of 13 individuals involved in a complex money laundering, electronic fraud, and violation of the electronic transactions system operation. According to an official report carried by Saudi Gazette, the suspects are accused of defrauding multiple victims, totaling approximately SR16 million.

The Criminal Network Uncovered

The investigation procedures revealed that the criminal organization had created fake electronic links to gain unauthorized access to their victims’ government and bank accounts. These malicious links allowed the suspects to:

• Issue fake authorities
• Illegally seize financial amounts
• Transfer them to other secret accounts
• Withdraw and deposit them into a commercial entity’s account to conceal the source of the funds
• Move them outside the Kingdom

The Extent of the Financial Damage

The alleged offenders have been accused of laundering over SR600,000 in cash and various foreign currencies. The Public Prosecution has now frozen the financial amounts in the suspects’ accounts and the commercial entity’s accounts, while orders for their arrest have been issued.

Penalties and Warnings

The suspects will next be referred to the competent court to demand the harshest penalties in accordance with the law. Meanwhile, the Public Prosecution has expressed its unwavering commitment to eradicating financial fraud:

The Public Prosecution sternly opposes any unlawful actions that constitute theft under the guise of fraud.

Warnings Against Phony Links and Unofficial Websites

The Public Prosecution also provided the following warnings:

• Against using phony links
• Engaging with unofficial websites
• Sharing personal or financial information with unknown entities or individuals

Reporting Suspicious Activity

Victims of financial fraud are urged to promptly report any suspicious activity to the appropriate authorities.