Point system to stem traffic violations

Updated 29 April 2014

Point system to stem traffic violations

A plan to use a point system which will replace the current fine system for reducing traffic violations is under study, an informed source at the Riyadh Traffic Department told Arab News.
“The traffic department is seriously thinking of implementing the point system plan against drivers,” the source said adding: “The new point system will help reduce traffic violations by more than 90 percent nationwide.”
He explained that the present system based on imposing fines on violators was not very effective in reducing traffic violations.
Traffic safety experts believe that the point system will be a powerful deterrent for reckless drivers. “Careless drivers simply pay the fines and then revert to violating the system as before,” they said.
They pointed out that a sound traffic strategy should have four components: Discipline, notification, reporting, and punishment.
Recently, Al-Ghamidi, Omar Al Mufadda, and Col. Khalid Al Qahtani said that the penalty component needs more detailed treatment, because in addition to its physical and financial dimensions (by which they mean imprisonment and paying fines), there is the moral dimension, which is no less important.
“A driver who does not care about how much money he pays in the form of fines will be more mindful of traffic rules if he is under threat of suspension of his license,” they said.
“Even if he pays the fine, the decision to suspend his license remains in effect. In addition, the suspension will cause the driver to run into difficulties with the insurance companies, as they will be asking for a premium to insure reckless drivers,” they said.
They also recommended the establishment of a Speed Department in each city in the Kingdom, which will operate on the major intercity highways. “The unit will be instrumental in combating speed, the leading cause of traffic accidents in the Kingdom,” they said.
The Kingdom’s roads suffer more than 1,500 traffic accidents with more than 30 fatalities daily. Over 40,000 people are injured annually with more than 80 percent of the cases incurring motor function impairments.
Saudi Arabia is one of the most accident-prone countries in the world with the number of fatalities exceeding 8,000 people every year.

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Updated 21 August 2019

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

  • The website of a cryptocurrency company is promoting what it calls the CryptoRiyal and SmartRiyal
  • The Singapore-based company uses the Saudi emblem of two crossed swords and a palm tree

JEDDAH: Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday.

The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree. Its “ultimate goal” is to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom, the company claims.

“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the ministry said on Tuesday.

The fraudsters were exploiting ignorance of how virtual currencies work, cryptocurrency expert Dr. Assad Rizq told Arab News.

“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.

“They hype and pump their project so the price goes up. Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.

“Cryptocurrencies are a risky investment for two reasons. First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.

“Second, you have to do your homework, learn about the technology. And if you still want to invest, consider your country’s rules and regulations.”