A fake "bank update" message, money sent to a sham investor, or an online shop that vanished after payment: these are forms of financial fraud, criminalised in Saudi Arabia by the Anti-Financial Fraud and Breach of Trust Law.
What counts as financial fraud?
| Form | Common example |
|---|---|
| Impersonating a bank or official body | A call or message asking for a verification code or card details |
| Sham investment | Guaranteed high returns in trading or crypto, then the money disappears |
| Fake sale | A shop or account selling goods that do not exist |
| Breach of trust | A partner, agent or employee using money entrusted to him for himself |
Penalty
The law punishes fraud with prison and fines, reaching in its gravest forms seven years and a fine of five million riyals, with heavier penalties for organised fraud, impersonating an official capacity, or many victims. Check the current official text. Online fraud may also fall under the Anti-Cybercrime Law.
What to do immediately
- Call your bank at once to block the card or account and try to freeze the transfer. The first hours matter most.
- Keep everything: transfer number and date, beneficiary account, messages, phone numbers, screenshots.
- File an official report with the security authorities and keep the number.
- Never pay "recovery fees" to anyone promising to get your money back; that is a second common scam.
- Claim your private right: once the suspect is identified, claim repayment and compensation, and enforce the judgment through the Enforcement Court.
If you are accused
Not every money dispute is fraud. A disagreement over performing a contract or a late debt is civil in principle; fraud requires deliberate deception before the money was taken, which is often the core of the defence.
Victim of fraud, or accused?
Usus Law Firm handles criminal cases and recovery of funds, in Riyadh and Tabuk, and advises in English.
This article is general legal information and is not a substitute for advice on your specific case. Court proceedings in Saudi Arabia are in Arabic; the official Arabic text of each law prevails.
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