Saudi Gazette report

RIYADH — The Presidency of State Security (PSS) has warned against falling prey into the trap of fraudsters who use different tricks to cheat people. The Presidency clarified that there are certain common fraudulent practices being employed by these unscrupulous guys.

The major form of fraudulent means is impersonation of government officials or government agencies. Posing as government or banking officials, these fraudsters ask for personal ID or bank account details of consumers after luring them into believe that they want to deposit some money owed to them in their accounts.

The Presidency indicated that the methods of financial fraud include impersonating well-known investment companies and institutions to offer investment opportunities with high profit margin.

It noted that fraudsters create bogus websites to obtain customers’ personal credentials illegally, in addition to sending fake text messages that impersonate well-known commercial companies.