News & insights
Bahrain: Putting a Lid on Commercial Fraud
December 22, 2014
Bahrain issued the Anti-Commercial Fraud Law No. 62 of 2014 in an effort to protect consumers and regulate the market. The law defines commercial fraud as the use and sale of a fraudulent commodity which has been altered or manipulated in order to cause deception.
The law specifies penalties that will result in imprisonment up to the max of ten year jail term and a fine of up to 10,000 dinars (US $26,516) for any commercial fraud that causes permanent disability. The law also stipulates life imprisonment and a fine of up to 20,000 dinars (US $53,032) if the fraud causes death.
The new law offers a positive enhancement of the existing enforcement framework in Bahrain and is expected to increase the effectiveness of enforcement mechanisms through the use of deterrent penalties.
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