Saudi Arabia: 25-year prison term and 500,000 riyals fine for counterfeiting money
Saudi Arabia criminalises counterfeiting or imitation of domestic and foreign currencies
Dubai: Saudi Arabia’s Public Prosecution has announced harsh penalties for those involved in counterfeiting or imitating currency.
Under the Criminal Law on Counterfeiting and Imitation of Money, individuals found guilty of these offences could face a prison term of up to 25 years, or a fine of up to 500,000 riyals.
The law aims to safeguard the integrity of the nation’s currency and protect the public’s financial interests.
It criminalises the counterfeiting or imitation of both domestic and foreign currencies, as well as the unauthorised possession or use of counterfeiting equipment and materials.
Violators will be subject to a minimum prison sentence of five years and a fine of at least 30,000 riyals.
The Public Prosecution emphasizes that these measures are in place to ensure sound currency circulation and to defend both domestic and international cash reserves against counterfeiting threats.