SAUDI ARABIA

62% of Saudis exposed to attempts of financial fraud, survey shows

April 27, 2022

Saudi Gazette report

RIYADH — Around 62 percent of Saudis were exposed to attempts of financial fraud through phone calls or electronic means, according to a public opinion poll.

The survey on financial fraud was carried out by the National Center for Public Opinion Surveys under King Abdulaziz Center for National Dialogue. A total of 1,045 persons participated in the survey.

About 28 percent of those who were exposed to financial fraud attempts said that there was a relationship between the financial fraud attempt they had been exposed to and a previous activity they had done, such as online purchases; mail delivery; and payment to an account by using bank card to a certain destination that someone purportedly claiming to be the same entity.

It was revealed that 14 percent of victims lost money due to financial fraud through phone calls or other electronic means.

With regard to the impact of the financial loss, 53 percent of the victims said that the fraud negatively affected their lifestyle and the lives of their families, while 16 percent believed that it impeded their saving plans whereas 31 percent of the victims were forced to abandon plans to purchase certain items.

Regarding the party that fraudsters claimed that they belong to, banks were in the leading position with 72 percent, while police accounted for 18 percent and mail delivery entities made up 10 percent.

The survey showed that 58 percent of the citizens revealed that those in their acquaintance including relatives, friends, neighbors and colleagues, were exposed to an attempted financial fraud through phone calls or electronic means while 43 percent of participants said that their acquaintance lost money in financial fraud through calls or electronic means.


April 27, 2022
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