RIYADH: Bank fraud is low in the Kingdom compared to rising rates in other countries, Saudi Banks, the nation’s association of bankers, said on Thursday.
While money transfer fraud, ATM and online banking fraud have become a worldwide threat, prudent banking measures meant the country had one of the world’s least-registered rates of financial fraud, a Saudi Banks spokesman said.
Talat Zaki Hafiz, the secretary-general of the media and banking awareness committee for Saudi Banks, was speaking at the launch in Riyadh of the ninth public awareness campaign, “Mo_Alaina”, about the risks of financial and banking fraud.
“This campaign is basically aimed at educating the public about the techniques of banking fraud, how to deal with it and avoid it by being cautious while using an ATM or making online transactions,” he said.
“In doing this we are not trying to scare people, but just alerting them to banking fraud. We have had some cases reported in the Kingdom which we need to avoid, for example an unknown person asking to transfer money to an unidentified account saying he has no account.”
“If you take the number of total transactions taking place on a daily or a yearly basis, the number in the Kingdom is in the acceptable range, especially if you compare it to the global standard,” he said.
Hafiz said that financial fraud was on the rise and had become a costly burden to the world economy. In 2016, financial fraud cost companies around the world 5 percent of their annual revenue — $6.3 billion annually.
Ibrahim Saad Abu Muti, head of the banking information and awareness-raising team at Saudi Banks, said that this year’s campaign will deal with fake and unlicensed investments.
Saudi Arabia ‘has one of world’s lowest bank fraud rates’
Saudi Arabia ‘has one of world’s lowest bank fraud rates’
Saudi Armed Forces participate in military exercise in Turkiye
- The field exercise phase of EFES 2024, which begins on Friday and continues until May 30, follows a command center phase that began on April 25 and ended on Wednesday
RIYADH: The Saudi Arabian Armed Forces are taking part in a multinational military exercise in the Turkish city of Izmir, the Kingdom’s Defense Ministry said on Wednesday.
Upon arrival in Turkiye ahead of the field-exercise phase of EFES 2024, the Saudi units were greeted by the military attache at the Saudi embassy in Ankara, Commodore Adel Al-Kalthami, the director of the exercise from the Kingdom, Brig. Gen. Nasser Al-Suhaimi, and officers from branches of the Armed Forces.
The exercise involves two main phases, the first of which was a command-center exercise at the Multinational War Center in Istanbul and the Joint Command Training Center in Izmir, which began on April 25 and concluded on Wednesday. The second phase, involving live-firing field exercises at Izmir’s Doganbey Firing and Exercise Area, begins on Friday and continues until May 30.
The head of the Saudi Armed Forces Education and Training Authority, Maj. Gen. Adel Al-Balawi, said participation of the nation’s forces in the exercise reflects the care and support of the Saudi leadership for the development of their capabilities and the enhancement their organizational, training and armaments skills.
The exercise provides an opportunity for forces from participating nations to exchange skills, train together in the planning and coordination of joint operations in various environments, raise their combat efficiency, and enhance military cooperation, he added.
During the exercise the Saudi units and their counterparts from other countries will carry out many field maneuvers on land and sea, including sea-landing operations, search and rescue missions, and responses to threats posed by drones, using light arms loaded with live ammunition and other weaponry, Al-Balawi said.
Saudi king, crown prince offer condolences to Brazilian president over flood victims
RIYADH: Saudi Arabia’s King Salman sent a message of condolences and sympathy to Brazilain President Luiz Inacio Lula da Silva, following the floods that swept the state of Rio Grande do Sul that killed and injured several people and left a number missing, the Saudi Press Agency reported on Wednesday.
“We learned of the news of the floods that swept through the state of Rio Grande do Sul, south of the Federal Republic of Brazil, and the resulting deaths, injuries, and missing persons,” the king said.
He added: “We share Your Excellency’s pain of this tragedy, and we send to you, to the families of the deceased, and to your friendly people, our warmest condolences and sincere sympathy, wishing that the missing will return safely and the injured a speedy recovery.”
Crown Prince Mohammed bin Salman also sent a similar cable to the Brazilian president.
Heavy rains and flooding in the southern state of Rio Grande do Sul since last week also have left 128 people missing, authorities said. More than 230,000 have been displaced, and much of the region has been isolated by the floodwaters.
(With AP)
Saudi crown prince, Ukrainian president discuss Russia-Ukraine conflict during call
RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday received a phone call from Ukranian President Volodymyr Zelensky, the Saudi Press Agency reported.
During the call, they reviewed bilateral relations between the two countries and discussed several issues of common interest.
They also discussed developments in the Ukrainian-Russian crisis and efforts to resolve the conflict.
Ithra Film Production announces new projects at film festival
- The IFP seeks to highlight Saudi stories and discover new voices
DHAHRAN: The King Abdulaziz World Cultural Center, or Ithra, announced 15 new film projects this week at the 10th Saudi Film Festival, which concludes on May 9.
The Saudi film funding program selected four features and 11 short films from 170 submissions over the past year.
The entries were submitted by emerging Saudi filmmakers vying to take their concepts from the drawing board to silver screens across the globe.
Since its inception six years ago, the IFP has played a vital role in supporting Saudi Arabia’s fast-growing film industry, by nurturing home-grown talent and fostering cinematic content through commissioning and co-funding opportunities.
The IFP seeks to highlight Saudi stories and discover new voices and creative storytellers with the ultimate goal of having their films showcased on national and international platforms.
After reviewing an unprecedented number of high-quality submissions, the jury ultimately settled on the 15 films that together comprise an array of unique untold stories presented by talented storytellers who tapped into Saudi Arabia’s rich culture for ideas.
IFP also introduced a range of initiatives aimed at providing platforms for film producers, advancing standards of excellence in filmmaking and empowering new talent in the region.
Additionally, they host numerous workshops and seminars in the field of representation and production, writing and directing, among others.
Since its first film in 2018, IFP has funded 20 titles and produced four which have been showcased at 95 film festivals across the globe, winning 34 awards.
This includes “Hajjan” which most recently won three awards at the Gulf Film Festival including best feature, best actor and best cinematography.
Saudi deputy minister, Swiss envoy review bilateral relations
RIYADH: Saudi Deputy Minister for Political Affairs Dr. Saud Al-Sati received the Swiss envoy to the Kingdom, Yasmine Chatila, on Wednesday in Riyadh.
During the meeting, the two reviewed Saudi-Swiss bilateral relations, in addition to discussing regional and international developments of common concern.
Meanwhile, Hassan Al-Attas, assistant general supervisor of the Saudi Development and Reconstruction Program for Yemen, met with Charles Harper, development director and deputy ambassador of the UK to Yemen, at the SDRPY headquarters in Riyadh.
They reviewed development efforts through the Saudi program in various Yemeni governorates, and ways to enhance cooperation and partnerships to serve development goals in Yemen.
