In a strategic move aimed at protecting society against increasing financial risks, the Banking Awareness and Media Committee of Saudi banks, in cooperation with the Deanship of Student Affairs at King Khalid University, held an awareness workshop entitled “Financial Awareness and Fraud Prevention.” The event, which took place last Wednesday at the Al-Far’a Exhibition and Conference Center, is part of the ambitious “Financial Awareness Program, Fourth Edition 2026.”.
General context and the importance of financial literacy
This workshop is being held at a crucial time, as the Saudi financial sector undergoes rapid digital transformation, in line with the objectives of Vision 2030 and the Financial Sector Development Program. With the increasing reliance on digital banking and e-commerce, new challenges have emerged, including the evolving methods of financial and cyber fraud. Fraudsters seek to exploit the trust or lack of awareness of some users to steal their money and personal data. Therefore, financial literacy programs are no longer merely complementary initiatives, but rather an urgent necessity to protect the national economy and maintain consumer confidence in the financial system.
Workshop themes and expected impact
The workshop was expertly led by Mr. Mohammed Al-Mansouri, Senior Manager of the Fraud Prevention Department at Bank Albilad, who provided the attending students with in-depth insights into the world of financial fraud. Mr. Al-Mansouri addressed key topics, including defining the most common fraud methods such as phishing, smishing, and social engineering. He also explained practical mechanisms for verifying the authenticity of suspicious transactions and messages, emphasizing the importance of never sharing confidential information such as passwords and one-time passwords (OTPs) with anyone. This knowledge is expected to empower young people, the most tech-savvy demographic, to make sound financial decisions and protect themselves and their families from falling victim to scams.
Integrated national efforts
This initiative is an extension of the ongoing efforts of the Banking Awareness and Media Committee of Saudi banks, under the supervision of the Saudi Central Bank (SAMA), to raise the level of financial literacy in society. These integrated efforts aim to build a societal safeguard against financial crimes, promote financial inclusion, and support economic stability. Targeting university students is an investment in the future, as these young people will be the economic leaders and entrepreneurs of the coming years, and their financial awareness today is the foundation of a robust economy tomorrow.
