Saudi Arabia’s Ministry of Commerce confirmed the Kingdom’s new anti-concealment law that includes heavy penalties of jail time and fines, as well as the protection of whistleblowers.
Following cabinet approval, the new law stipulates up to five years in jail and fines of SR5 million for those who break the new law.
The law establishes new mechanisms for the protection of the identity and data of whistleblowers in concealment cases by not including them in the case files, and rewards whistleblowers with a percentage of up to 30 percent of the fine collected after the verdict is issued and has gained final status.
“The system stipulated proactive measures to prevent the occurrence of cover-up crimes to narrow the sources of this phenomenon by addressing the stages preceding the crime, and punishments, the most important of which is the seizure and confiscation of illegal funds for the perpetrators of the crime after final court rulings have been issued against them,” the ministry said in a statement carried by the Saudi Press Agency.
Earlier this week, Saudi Arabia established a ministerial committee to combat commercial fraud and to develop solutions to eliminate the practice.