Global Cybersecurity King: Saudi Arabia Claims Top Spot for 2024

Saudi Arabia has ranked the lowest rate of financial fraud crimes globally. This is in line with the 2024 Global Cybersecurity Index (GCI) which ranked first has been recognized for playing an exemplary role in cybersecurity.

According to the Saudi Gazette, this information was revealed by Naif Al Wakid, the chief of the Saudi Public Prosecution’s Anti-Fraud Prosecution. Al Wakid stated that the Public Prosecution’s investigations had shown that there were no financial fraud crimes in the country linked to cyber system breaches.

Al Wakid highlighted that the Kingdom’s financial fraud crime rate is lower than the total average count around the world. He pointed out that cybercrime activities totaled $6.5 trillion in 2021 and increased by 15% a year. He also said that it is predicted to reach $10.5 trillion in 2025.

All documented events were caused by criminals who were manipulating the victims to get their private data and using them to steal money. He said that financial fraud prosecutions run around the clock in every part of Saudi Arabia, making it possible for law enforcement to deliver the reports on time. He then advised the citizens, emphasising that everyone should be cautious all the time and not give out their personal information or verification codes to strangers. He said that if a fraudster has the key that is a person’s personal data then they can get access even against a strong security barrier.

In order to help in the recovery of the stolen money and stop their movement overseas, Al Wakid advised victims of theft to report the cases immediately to the police and their banks as soon as possible. In the fight against financial fraud crimes, the Public Prosecution is improving its legal procedures in partnership with other agencies to guarantee quick justice to the victims. 

In the end he highlighted the role of the Public Prosecution’s crime patterns analysis unit, which is directly working under the supervision of the deputy public prosecutor. This analysing unit will help to uncover the frequent crimes and their locations by analysing the data and studying criminal patterns to find relationships between crimes and criminals. Along with other data, it also tries to identify the total amount which was stolen and their overseas destinations by providing accurate and in-depth insights.