Saudi- Banks step in to stop check fraud

(MENAFN- Arab News) A number of Saudi banks are moving to protect customers from thieves who manipulate bank checks after a number video clips went viral on social networking sites showing how scammers manipulate numbers and data on original checks.

In response a number of banks have provided their VIP customers with checkbooks with 'carbon' sheets in order to allow the writer of the check to maintain a copy and protect against fraudulent transactions. Such checkbooks will become widely available in coming weeks.

According to Talaat Hafez the secretary-general of the Committee of Media and Banking Awareness the videos circulating on YouTube cannot be confirmed as accurate. The video clips demonstrate how scammers change checks and wipe out data using a lighter without causing changes to the check paper itself allowing anyone to change the amount and check type.

'To avoid falling victim to such types of fraud everyone should ensure financial transactions are occurring safely and all transactions and documents are personally monitored' he advised.

According to lawyer and legal adviser Ahmed Al-Sudairi fraud in this case is defined as changing the terms of a particular check that is written down printed or otherwise as well as making changes to other government transactions or private transactions of other kinds.

He said that the punishment for such fraud is decided by the judge on a case by case basis and can include a prison sentence of up to 10 years as well as fines of up to SR10 million.