Riyadh: The Saudi Central Bank (SAMA) has announced updating regulations of the temporary precautionary procedures to protect bank clients from financial fraud, where banks in the Kingdom of Saudi Arabia were informed of these procedures on April 7, 2022 upon assessments and follow ups that had been made over the past few days.

The update included re-increasing the minimum limit of daily transfers for bank clients to the previous limit, where the client can reduce this limit through contacting banks, where the updates also allowed the possibility to open bank accounts online as per the organizational procedures, provided that the updated regulations come into force as of Tuesday April 12, 2022.

The Saudi Central Bank urged bank clients to practice the highest degrees of caution against fraud operations and abstain from disclosing bank and personal data, such as passwords and PIN's for any person or side, highlighting the importance of ensuring the reliability of websites that they deal with.