Saudi Arabian authorities have successfully apprehended 12 individuals, including expatriates and citizens, suspected of engaging in online fraud and transferring the proceeds outside the kingdom. The anti-fraud prosecution is currently investigating this "criminal organization" for their involvement in financial fraud, as revealed by an official source at Saudi prosecution.

Preliminary investigations have uncovered that several of the accused utilized specialized devices and apps to make international calls, deceiving victims into investing in unlicensed digital currencies. They also opened bank accounts within Saudi Arabia to receive the funds and then transfer them overseas. Although specific figures were not disclosed, electronic devices for conducting phone calls, SIM cards, and mobile phones were discovered during searches of the suspects' residences.

The arrested individuals are now undergoing further investigation procedures, and they will be brought before the appropriate court, where severe penalties will be sought under the anti-financial fraud system. Earlier this year, Saudi Arabia established a dedicated prosecution branch to expedite the handling of financial fraud cases.

According to Saudi law, fraud can result in a prison sentence of up to seven years and a maximum fine of SR5 million. In cases involving food adulteration, penalties are even more stringent.

In a similar incident last August, Saudi authorities dismantled a criminal network composed of citizens who were responsible for posting fake advertisements for used cars online. As a consequence, they illicitly gained over SR6 million. The prosecution official at the time emphasized the country's determination to combat fraudulent activities.