Financial fraud uncovered: Saudi prosecutors take down 13-member criminal network

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Saudi Gazette report

RIYADH — Saudi authorities have apprehended 13 people concerned in a far-reaching monetary fraud operation.

The arrests observe an intensive investigation into a complicated community engaged in cash laundering, digital fraud, and violations of the digital transactions system.

Investigation procedures, carried out by the Monetary Fraud wing of the Public Prosecution, revealed that the suspects engaged in monetary fraud towards a number of victims by creating fraudulent digital hyperlinks and sending them to the victims.

They unlawfully accessed their authorities accounts by means of these hyperlinks, issued official authorities with out the victims’ data, and seized monetary quantities from their financial institution accounts by transferring them to different accounts or withdrawing and depositing them right into a business entity’s account to hide the supply of the funds and switch them outdoors the Kingdom.

The prison group is discovered to have defrauded victims of roughly SR16 million, along with seizing over SR600,000 in money and different money quantities in varied currencies.

Monetary quantities of their accounts and the business entity’s accounts have additionally been frozen.

The Public Prosecution has issued orders for his or her arrest, they usually have been referred to the competent courtroom to demand the harshest penalties stipulated by the legislation.

The Public Prosecution emphasised its dedication to combating monetary crimes in all their types, sternly prohibiting sinful behaviors that represent crimes towards the property of others by means of fraud.

It urged warning towards fraudulent hyperlinks, the hazards of coping with unofficial web sites, refraining from sharing private or monetary knowledge with unknown entities or people, and speedy reporting to the related authorities within the occasion of falling sufferer to monetary fraud.

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