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Sunday, March 19, 2017

Bank Balance not matching with the legal income – 6 years Jail, SR 3 million fine

Crime is not only killing or stealing. Anything that has a direct harm is constituted as a crime. We often know some criminals but remain quiet as we believe that they are not actually criminals. But their activities impose greater danger. They are harmful for the nation. Such criminals also include money-launders. Money laundering is a serious crime. We often take it easy, but one should know that money-launders are criminals. They tend to legitimize illegal or “dirty” money to hide the actual source through which it is earned.



These money launders are making money for themselves at the cost of nation’s benefit. These criminals shall be charged heavily, only then we will be able to eradicate money launders from our country. Saudi Arabia has shown to the world that it has not only made comprehensive laws but also has the capability to practice them. This was done by upholding a sanction against a Saudi involved in money laundering.  The culprit was caught when his bank account started to multiply and reached an amount of two billion Riyals. The bank then contacted the concerning authorities to consider the matter. 



The person was found guilty of money laundering and the anti-money laundering department took him into custody when he reached Saudi Arabia. The culprit had gone to an African country. The Saudi man was first put forward in the court of Jeddah in June 2016. A lower court in the Red Sea city, Jeddah sentenced the money-launder with a travel ban of six years to be followed by six years of imprisonment.  A fine of three million Saudi riyals had been imposed on this man who has been found guilty of money laundering. He could challenge the decision of a lower court. Therefore, his case was reviewed in courts of appeal. The courts of appeal also upheld the same sentence. The anti-money laundering law was first enacted in 2003; however, it was later amended after consulting the Shura council.



The Shura council acts as a national advisor for the law. Its members advised for changing the article by adopting certain additional articles. This process has ensured a development of an effective and comprehensive anti-money laundering system. We can make as many good laws as we want, but the nation will benefit only when these laws come into practice.



The Saudi courts have shown that their nation is the priority. They are here to serve the nation, to make sure justice prevails at any cost. Let us make our country peaceful by practicing our laws. Let us make sure that every criminal, rich or poor, faces the penalty for his/her crime. Let us show to the world that we aim at making Saudi Arabia prosperous. We are a nation who values law.


Source: Gulf News

Punishments under Saudi Laws
  1. SR 1,200 million transferred to a Saudi Resident account, what happened after that?
  2. Saudi Resident arrested in Jeddah for having huge bank balance
  3. Customers of XXXX Bank are robbed today with several online deductions
  4. Bank Balance of a Beggar in Kuwait = SR 6.2 million
  5. Expat who stole SR 1.7 billion ($450 million) arrested by Police

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