Abu Dhabi: Saudi Arabia’s Ministry of Commerce appointed and humiliated a Saudi citizen and an Egyptian after being caught guilty of advertising license fraud, the media reported.
“Saudi Arabia was found to be to blame for allowing the Egyptian resident to run a genuine heritage progression business in Riyadh through an advertising license registered in the citizen’s call,” according to court records.
Yesterday, the ministry issued a summary of the judicial decision of the Correctional Court of Riyadh, which included a fine, the closure of the company, the liquidation of the company and the revocation of its licence.
The court’s ruling also overulled the company’s registration, collecting zakaah, fees and taxes.
The court also ordered the Egyptian’s expulsion after serving his sentence, allowing him to return to the kingdom.
Saudi Arabia has tightened sanctions for advertising license fraud, also known as Tasattur or concealment, in which foreign citizens own business in the kingdom while the names of Saudi citizens reported local media.
A new anti-business licensing scheme followed through the Saudi company on Tuesday aims at the submerged economy and includes harsh consequences for offenders up to five years in crime and a fine of up to five million SR.
A ministerial committee has been set up to tackle advertising fraud and propose responses to its impact.
The committee will focus on activities such as foreign citizens who own business in the kingdom, while the names of Saudi citizens.
There will be complex degrees of coordination between the government issuing advertising licenses and labor visas.
The Saudi Arabian Data and Artificial Intelligence Authority will create an index to measure the percentage of suspected cases of ad cover-up and will continue to update records on the knowledge it receives from the authorities.
The new regime against corporate fraud protects whistleblowers and rewards them up to 30% of the fine charged after the court’s final decision.
The formula provided for proactive measures to prevent the occurrence of cover-up offences in order to limit the resources of this phenomenon through the address of the pre-crime stages and sanctions, the maximum of which is the seizure and confiscation of the illicit funds of the perpetrators.
The formula allows the relevant government agencies to combat the fraud of advertising licenses or cover-up offences, requiring the licensing entity to track them and inform the Ministry of Commerce of any suspicious practice.
The new formula allows applicable entities to use generation to resolve crimes and violations of advertising concealment through “electronic testing”, as well as other testing strategies.
The formula also allows or exempts you from consequences for those who report fraudulent activity.
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