Referring to the role of SAMA in combating financial fraud and overseeing financial transactions executed through various payment tools such as credit cards or debit cards, and similar instruments via point-of-sale devices available in stores and commercial sectors in the Kingdom.

It has been noted recently that some parties have been executing suspicious transactions via point-of-sale devices through fraudulent practices by exploiting the feature of the Preauthorization Transaction and the subsequent Capture/Purchase Advice using bank cards affiliated with global payment networks.

In order to protect banks, and financial technology companies hosting electronic payment operations, as well as their customers from any suspicious activities that may expose these entities to the consequences of financial fraud, SAMA emphasizes the importance of all providers of acquiring services for point-of-sale operations to comply with the relevant requirements and instructions pertaining to international payment networks when permitting this type of transaction. They must ensure that such transactions are exclusively available to targeted sectors according to the relevant standards. All service providers should monitor transactions executed through the preauthorization feature capture and investigate suspicious and high-risk transactions based on the customer segment and transaction amount. Additionally, they should develop fraud monitoring and detection systems in accordance with these standards, with a full commitment to the Guide to Combating Financial Fraud communicated under SAMA's Circular No. 41071315 dated 27/12/1441H.