Money laundering has been creating a chronic headache to global economies, as illegal business activities and trading usually occur outside the normal range of economic and financial statistics.

Technology is a double-edged sword since it facilitates our lives and allows skilled fraudsters to commit financial fraud.

Professional fraudsters use the latest technologies to hone their skills, using inexpensive and readily available devices to commit financial fraud.

Since President Joe Biden assumed office, the United States’ relationship with Saudi Arabia has been in a downward spiral due to political and economic differences between the two countries.

Bitcoin has plunged more than 52 percent this year, as it presently trades below $21,000. According to CoinDesk data, Bitcoin lost its bounce to drop below $20,000 before regaining ground.

Although two years have passed since the outbreak of the COVID-19 pandemic, the global economy is still suffering from its repercussions despite the international efforts made to contain it.

Despite the tough two years that the global economy has gone through — due to the COVID-19 pandemic, the Russia-Ukraine conflict and unprecedented inflation rate hikes — the Saudi Arabian economy has stood firm.

The Kingdom is well on its way to economic recovery — as is evident from different reports from independent sources. Most recently Moody’s changed Saudi Arabia’s outlook from negative to stable.

We celebrate Saudi Arabia’s National Day every year on Sept. 23 with national fervor. This year marks the 91st National Day of our great country.

Saudi Arabia is investing heavily to shift its economy away from total dependency on oil to a more diversified economy. Adopting and deploying advanced technologies and high-tech innovation in all sectors supports this shift.