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SAMA Updates Regulations of Temporary Precautionary Procedures to Protect Bank Clients from Financial Fraud

A general view of Riyadh city, Saudi Arabia, February 20, 2022. (Reuters)
A general view of Riyadh city, Saudi Arabia, February 20, 2022. (Reuters)
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SAMA Updates Regulations of Temporary Precautionary Procedures to Protect Bank Clients from Financial Fraud

A general view of Riyadh city, Saudi Arabia, February 20, 2022. (Reuters)
A general view of Riyadh city, Saudi Arabia, February 20, 2022. (Reuters)

The Saudi Central Bank (SAMA) announced on Tuesday it was updating the regulations of the temporary precautionary procedures to protect bank clients from financial fraud, reported the Saudi Press Agency (SPA).

Banks were informed of these procedures on April 7, upon assessments and follow ups that had been made in recent days.

The update included re-increasing the minimum limit of daily transfers for bank clients to the previous limit, where the client can reduce this limit through contacting banks.

The updates also allow the possibility to open bank accounts online in line with organizational procedures.

The new regulations go into effect on Tuesday.

SAMA urged bank clients to practice the highest degrees of caution against fraud operations and abstain from disclosing bank and personal data, such as passwords and PINs, to any individual or party, highlighting the importance of verifying the credibility of websites they deal with.

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International Media Delegations Visit Hajj Command and Control Center in Holy Sites

The delegations were briefed on the coordination mechanisms that operate under a unified operational umbrella, bringing together various security and technical agencies. SPA
The delegations were briefed on the coordination mechanisms that operate under a unified operational umbrella, bringing together various security and technical agencies. SPA
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International Media Delegations Visit Hajj Command and Control Center in Holy Sites

The delegations were briefed on the coordination mechanisms that operate under a unified operational umbrella, bringing together various security and technical agencies. SPA
The delegations were briefed on the coordination mechanisms that operate under a unified operational umbrella, bringing together various security and technical agencies. SPA

International media delegations covering this year's Hajj season visited the command and control center in Saudi Arabia’s holy sites.

The visit provided them with an in-depth look at the integrated security and technical efforts dedicated to managing the Hajj season.

They were received by Director General of Public Security and Chairman of the Hajj Security Committee Lt. Gen. Mohammed Al-Bassami.

During their visit, the delegations were briefed on the coordination mechanisms that operate under a unified operational umbrella, bringing together various security and technical agencies.

This robust system is supported by the latest monitoring, analysis, and live surveillance technologies, all of which significantly enhance the national system's readiness to serve pilgrims.

The media representatives also learned about the role of artificial intelligence (AI) and Internet of Things (IoT) technologies in supporting efficient crowd management and the proactive dispatch of pilgrims.