RIYADH: The Saudi Public Prosecution’s financial fraud unit is investigating a criminal organization comprising 12 suspects, including citizens and residents, on charges of financial fraud, a source has said.
The Saudi Press Agency reported on Monday that an initial investigation revealed some of the suspects used specialized devices to make international calls to victims’ phone numbers within the Kingdom. They convinced the victims to invest in unlicensed digital currencies and open bank accounts in several local branches to receive funds, which they then transferred outside the country.
The investigation also showed that some of the accused posted their resumes on social media platforms to search for jobs and receive offers from foreign companies for remote work in exchange for meager monthly salaries.
Electronic devices were sent to them by other accused individuals who used the name and uniform of a well-known telecommunications company. They securely installed these devices inside homes, operated them and concealed tracking data.
During the search of the suspects’ residences, authorities found several electronic devices for making calls, SIM cards, and mobile devices specifically used to activate SIM cards.
The source said that the suspects were arrested and will be referred to the competent court to face severe penalties under the Anti-Financial Fraud Law.
They also emphasized the Public Prosecution’s commitment to combating financial crimes in all its forms, adding that the authority will not hesitate to impose severe punishments on the accused.
The Public Prosecution has reiterated the importance of verifying any communication received regarding job offers, investment opportunities and similar matters, as such interactions may result in data exploitation and the misuse of bank accounts in financial fraud crimes.
