News & insights
GCC: Unified Commercial Anti-Fraud Law Soon
October 8, 2008
The GCC member states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) have recently introduced a new commercial anti-fraud law.
The purpose of this law is to enact legal measures and policies against commercial fraud, which is reportedly costing the GCC states billions of dollars in lost revenue each year to governments, threatening public health and safety, and causing damage to legitimate businesses and trade in general. The law is still yet to be approved by the member states.
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