Money laundering has been creating a chronic headache to global economies, as illegal business activities and trading usually occur outside the normal range of economic and financial statistics.

Technology is a double-edged sword since it facilitates our lives and allows skilled fraudsters to commit financial fraud.

Professional fraudsters use the latest technologies to hone their skills, using inexpensive and readily available devices to commit financial fraud.

Since President Joe Biden assumed office, the United States’ relationship with Saudi Arabia has been in a downward spiral due to political and economic differences between the two countries.

Bitcoin has plunged more than 52 percent this year, as it presently trades below $21,000. According to CoinDesk data, Bitcoin lost its bounce to drop below $20,000 before regaining ground.

Although two years have passed since the outbreak of the COVID-19 pandemic, the global economy is still suffering from its repercussions despite the international efforts made to contain it.

Despite the tough two years that the global economy has gone through — due to the COVID-19 pandemic, the Russia-Ukraine conflict and unprecedented inflation rate hikes — the Saudi Arabian economy has stood firm.

It was not long ago when we all used to think about the safety of our checkbooks and that our signature should match exactly with the authorized version submitted to the bank when opening an account.

Given the unprecedented political and economic challenges facing the Gulf Cooperation Council, member states have no choice but to move beyond cooperation and push for economic federation.