Saudi Media Forum 2023

His Excellency Dr. Abdul Latif bin Mohammed Al Abdul Latif, the CEO of the General Authority for Media Regulation, participated in the Saudi Media Forum held in Riyadh from February 20 to 21, through a session titled "How Media Enhances Immunity Against Financial Fraud," to clarify the essential role of media in combating financial fraud. He explained that the advertising market in the Kingdom is significantly open, with its size reaching 11 billion riyals annually. He also noted that many advertisers of malicious advertisements have not been able to obtain a "Mowthuq" license, which has helped limit the spread of suspicious and misleading advertisements. His Excellency also mentioned that the Authority has communicated with major platforms such as Google and Twitter to stop financial fraud advertisements, and there was significant cooperation from them. He confirmed that the Authority will not allow any platform to broadcast within the Kingdom if it refuses to cooperate in content regulation. He highlighted that awareness campaigns to reduce financial fraud are not sufficient and that the Authority is working on legislation for strong systems to limit and stop it. He explained that the Authority has completed the first phase of issuing "Mowthuq" licenses for individuals, and there will be a future phase to further develop and make it more transparent. Additionally, the Authority will share its future decisions with beneficiaries to meet their needs, whether they are celebrities, advertisers, or the general public.