Saudi banks have confirmed that to tackle money laundering in the country, there are five official legal entities in the Kingdom that have the power to suspend accounts and seize deposits, stock and investments in banks operating in the Kingdom. According to a report in a section of the Arabic press on Monday, the entities are the Ministry of Interior, regional governors, Shariah courts, Board of Grievances and Ministry of Finance. This is based on decisions taken by the Committee for Collecting Government Dues, the recommendations of the Committee for the Settlement of Bank Disputes and Chairman of the Capital Market. It is also based on the decisions of the Committee for the Settlement of Securities and the Bureau of Investigation and Prosecution's chairman and branches. The banks also pointed out that there are no additional fees for withdrawing money from ATMs or for using consumer cards to make purchases at sales outlets. They said customers will not be charged extra fees even if they withdraw from banks where they do not have accounts. Customers were also cautioned that if they have any problems while using an ATM they should keep their receipts, visit the bank, or call the bank's toll-free number. Any complaints about services can be referred to the Banks' Inspection Administration and the Saudi Arabian Monetary Agency (SAMA). Also, Saudi banks are obliged to accept metal coins and small-denomination banknotes. If banks refuse to take this form of cash, customers can report the matter to SAMA. Customers were also warned about using their credit cards recklessly because this can affect their credit record and their ability to meet their financial obligations. There was a risk in allowing others to use their cards especially close relatives such as wives, sons, daughters and husbands, the report added.
