Two criminal networks involved in financial frauds busted

April 17, 2021

Okaz/ Saudi Gazette report

RIYADH — Police in the Riyadh region have uncovered two criminal networks involved in financial frauds, the spokesman of Riyadh Region Police Maj. Khalid Al-Kreidees, said recently.

The successful operation carried by the police in the Riyadh region is an extension of efforts being exerted by the security authorities in combating cheating and fraud citizens as well as expatriates face while carrying out financial transactions.

One of the gangs that were busted comprised six expatriates of Pakistani and Indian nationality, who had connections with two people outside the Kingdom. The second network consisted of four expatriates of Bangladeshi nationality, which provided means of telecommunications and mobile chips.

Both these networks carried out fraud operations.

The operations involved advertising job vacancies, conducting personal interviews via video conferencing, duping the victims into giving their personal information and bank account details. With the data they obtained from their victims, they were able to get loans from the banks under the names of their victims.

By tracking the sources of these operations, the fraudsters were arrested in the Makkah and Riyadh regions and the Eastern Province. The authorities managed to seize amounts exceeding SR1.5 million. The authorities also seized cash reaching SR40,000, gold ornaments, and 4.800 local mobile chips.

The suspected fraudsters have been taken into custody and all the preliminary measures to refer them to the Public Prosecution, in line with the regulations, have been taken.

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