The Saudi Arabian legal system’s approach to white-collar crimes: challenges and potential reforms

Abstract

White-collar crimes committed by high-ranking officials are among the most common types of financial crimes that have an impact on global economies. Their positions grant them the authority to exploit their positions for personal gain and interest, and hindering development. In an effort to combat the global threat of white-collar crime, this paper investigates the Saudi Arabian legal approach to white-collar crime. The objective is to analyze the legal framework for tackling white-collar crime, including key legislations like the Anti-Bribery Law and Anti-Money Laundering Law. Through legal document analysis, the paper finds that while the legal framework exists, contemporary challenges like lacking transparency and cultural norms and perceptions of white-collar crime make reporting and prosecuting these crimes challenging. Finally, the paper presents potential reforms to strengthen the fight against white-collar crime and foster a more transparent and accountable system.

Keywords

• White-collar crime
• corruption
• bribery
• money laundering
• financial crime
• Criminal Law and Practice