Public prosecution reveals the Fine for Cybercrimes involving Financial fraud in Saudi Arabia
The Public Prosecution in Saudi Arabia has restated that those who commit financial fraud online through internet will get a maximum imprisonment of 3 years and a fine of up to 2 million Saudi Riyals.
The Prosecution warned against doing any such activities that involve in creating or sending fake links, texts or electronic messages that impersonate government agencies, bodies, or financial or service institutions to get money or financial data of others, through fraudulent means or under the cover of a false name.
- The punitive measures will be taken against anyone who commits a cybercrime in terms of seizing for himself or others a movable asset or a bond or singing the bond by fraud or impersonating the name of an entity in any manner. Trending : New measures on banks to prevent frauds of bank accounts in Saudi Arabia
- This alert from the Public Prosecution comes after the continuous complaints about bank account breaches in the Kingdom, after they caused the loss of many sums of amount.
- There are many types of financial frauds, most notably repeated calls to bank customers, by gangs that impersonate the IDs of Saudi banks, or investment companies and financing agencies, in addition to continuous withdrawals without knowing the reasons.
- Financial fraud is only possible with the help of the victim, everyone advised to be careful and cautious, to avoid becoming victims of financial fraud. Download Saudi Expatriates app from Play Store
- A large percentage of the financial fraud occurs with the help of the victim, without the help it would not have occurred. In one case, a fraudster seized amount of 200,000 riyals from the victim by simply sending a link to him.
- One must not respond to anyone requesting your information or bank statement, many time the Banking Information and Awareness Committee in Saudi Arabia has warned of such financial fraud practices.
Social Media Fraud :
- Social Media is full of such fraud posts, offering you to help with getting fake covid-19 tests, false proofs of vaccination, renewing driving licenses, deeply discounted offers in online stores as well as renewing a bank card. Read : Saudi Visit Visa cannot be converted into Iqama, Jawazat warns of such claims
- Now a day, there has been an increase in publications and advertisements that encourage people to invest in digital currencies and forex. Although they are real, the cyber scammer focuses on the weak awareness of the target in these areas with the delusions of getting rich quickly.
- The aim of such fraudsters is to get your personal information, even though such operations need this type of personal data, especially when it comes to renewing bank card, which is only renewed in the relevant place and without asking for the password or OTP.
- Avoid very tempting offers from online stores, or get-rich quick offers in forex trading, which often end in very big financial fraud. Avoid offers to renew the bank card, driving license, etc., these procedures can be done only at the designated place. See Also : Saudi Banks warned its customers of online fraudsters
Email Fraud :
Email is also one of the cause of many successful scams worldwide, and recently, it is increased in Saudi Arabia too, specifically messages related to shipping and logistics from local and international companies.
- Such fraudsters focus on delivering emails that looks same as official companies and their target is to get payment of 10 riyals via card for various reasons, which the official emails do not requests.
- Do not click on any unknown links, make sure of email address and never respond to such emails. Trust only official websites and official application information.
- Report such spam messages to the assigned number 330330 by copying all his details in the number by the text message.
