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Volume of Commercial fraud Costs GCC States $ 07 Billion Annually
Published in Saudi Press Agency on 14 - 10 - 2010

Qa'dah 06, 1431 H/Oct 14, 2010, SPA -- Prince Turki bin Mohammed bin Nasser bin Abdulaziz, Director of International Relations Department at Ministry of Commerce and Industry has stressed that the elimination of fraud and counterfeiting requires concerted efforts among various government agencies, all citizens and the media.
This came while expressing happiness of the great success achieved by the Second Arab Forum to protect the consumer which concluded its activities in Riyadh last Tuesday.
Prince Turki also hailed the importance of the Forum which was held under the auspices of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, pointing out that this reflects the interest of the leadership in the Kingdom of Saudi Arabia to eliminate fraud and counterfeiting activities which became as a phenomena around the world.
For his part, Abdullah bin Mohammed Al-Arifi, Executive Director of an international anti-fraud company has made clear that the volume of commercial fraud in the Gulf region values at $ 07 billion annually in the fields of food, consumer goods, auto parts, electronics, electrical appliances, clothing, leather goods, health and hygiene materials, pharmaceutical products and others.


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