The Ministry of Commerce and Investment (MCI) , the Financial Market Authority (CMA) and the Saudi Arabian Monetary Authority (SAMA) have warned all citizens and residents of falling victim to illegal commercial activities, including unlicensed "forex" activities, which are practiced by a number of fraudsters who practice new patterns of fraud, by claiming their ability To provide profits or cash flow within a short period. The three parties called for the necessity to report the violators immediately and not to deal with them, indicating at the same time that such activities may be effective and front for money laundering operations.

                In a joint statement, the authorities confirmed that carrying out these practices falls under the major crimes that require arrest according to the decision of His Highness the Minister of Interior No. (2000) dated 6/10/1435 AH. SAMA clarified that the vigilance of the relevant government agencies and the raising of awareness of all citizens and residents will help limit the spread of these practices, which in turn will contribute to strengthening the national economy.

                The three authorities called on all citizens and residents to view the lists of persons and entities licensed by law through the Saudi Arabian Monetary Authority (www.sama.gov.sa) and the Capital Market Authority website (www.cma.org.sa).        

                It should be noted that the Ministry of Commerce and Investment, the Financial Market Authority and the Saudi Arabian Monetary Authority have launched an awareness campaign to warn against dealing with suspicious websites that advertise for investing in the stock markey without obtaining the required licenses from the competent authorities, including unlicensed "forex" activities. The campaign includes awareness-raising messages from the three parties, as well as taking legal action against the sites or individuals who promote these activities.