Saudi Arabia ranks lowest globally for financial fraud crimes

Dubai: Saudi Arabia ranks lowest in financial fraud crimes globally. This was revealed by Naif Al Wakid, head of the Anti-Fraud Prosecution under the Saudi Public Prosecution, as reported by Saudi news outlet Saudi Gazette. This is as per the 2024 Global Cybersecurity Index (GCI), recognised for its exemplary role in cybersecurity.

Al Wakid noted that investigations by the Public Prosecution revealed that there were no financial fraud crimes linked to cyber system breaches in the country.

All reported cases stemmed from criminals misusing victims’ personal data. He mentioned that financial fraud prosecutions operate continuously, 24/7, across all regions of Saudi Arabia, allowing for timely reports from law enforcement.

Al Wakid urged fraud victims to promptly report incidents to the police and their banks to facilitate the recovery of stolen funds and prevent their transfer abroad.

The Public Prosecution, along with other agencies, is enhancing procedural measures to ensure swift justice in the fight against financial fraud crimes.