Saudi Arabia: New instructions issued for bank account holders

RIYADH: The bank administration and related institutions have issued guidelines for fraud in banks and their solutions, by following which the customer can avoid major losses.

In this regard, the member of the Saudi Bar Association and a well-known lawyer, Abdul Hameed Al Shahrani, says that it is necessary to inform the concerned bank immediately if the money is withdrawn from the bank account fraudulently.

According to Al-Ughal website, Al-Shahrani has said on his Twitter account that in case of fraudulent withdrawal of money from anyone’s bank account, he should request the bank at the first opportunity so that the bank operation is frozen according to clause 3-19 of the law. .

The bank may then be requested to proceed with the receiving bank as per clause 20-3.

The Saudi Central Bank (SAMA) had previously instructed account holders that in case of withdrawal of money from any of their accounts, they should do the following three things.

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All bank account services should be suspended by contacting the concerned bank and all channels should be closed on an emergency basis. In case of doubt, file a complaint at the police station or report through ‘Kalna Aman’ app.

Protect new confidential account information and do not disclose it to any person or entity.

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