Press Releases

<p>The banks in the kingdom with support from Saudi Arabian monetary authority have launched their campaign # khalha_lak to increasing awareness of financial fraud methods. This national initiative is the first one of its kind in the kingdom; this campaign aims to increase the society awareness of deferent methods of financial fraud operations, to reduce the implications effects on the society and individuals.</p><p>When new technology development arise a new fraud operations styles and techniques come as well, this campaign stresses the importance of non-complacency and laxity in preserving personal and banking data. In addition to responding to the phone calls or messages aims to obtain the personal banking account or personal data. Also avoiding communication with unauthorized and unknown entities that claim to be official entities, which requests a personal data such as credit card numbers, password for bank account under the pretext of updating the data, wining award, problems with bank account or other reasons.</p><p>The Saudi Arabian monetary authority made an effective role in increasing the awareness level of financial fraud, exerted efforts by issuing a guide for combat to financial fraud for internal self-supervision in the banks, updated periodically. In addition to implementation a set of related regulations and instructions that worked to combat financial and banking fraud during the last period limiting their spread, as a result the records of financial fraud in the kingdom is one of the lowest in the world.</p>