5 Saudis nabbed over online fraud
Suspects duped victims into buying fake banknotes at prices lower than market value
Cairo: Saudi police had arrested five citizens for involvement in online fraud, the Saudi news agency SPA reported.
The suspects had posted a fraudulent advertisement on a website claiming to sell a foreign currency for lower than its market price, a spokesman for police in Riyadh.
They used an apartment in a Riyadh district to do their illegal business. Police raided the hideout where the suspects had fake foreign money in their possession, the official added without giving specific figures.
Saudi authorities keep a close eye on suspected online fraud.
The kingdom’s police have recently busted a four-member gang involved in online fraud, by fooling their victims into disclosing their own data purportedly for stock business to get high profits.
The suspects included a Saudi man and three Pakistani residents, accused of illegally obtaining SR7 million by stealing the victims' banking and personal data and seizing their money.