The Cabinet has approved a draft emergency decree to strengthen measures against technological crimes, amending the existing 2023 decree. The updated legal framework expands law enforcement authority, enhances financial oversight, and imposes stricter obligations on businesses involved in digital transactions, telecommunications, and banking. It also seeks to improve protections for victims of online financial crimes.
Key amendments grant authorities greater power to act against peer-to-peer digital asset trading platforms linked to illegal activities. Telecommunications providers must suspend SIM cards associated with criminal use, while banks are required to report suspicious “money mule” accounts to the Anti-Money Laundering Office (AMLO) for immediate investigation. Digital asset platforms and financial institutions that fail to enforce identity verification will face penalties.
The decree introduces stricter penalties for the unauthorized disclosure of personal data and holds financial institutions, telecom providers, and social media platforms accountable for negligence that contributes to financial crimes. 
To speed up victim compensation, AMLO’s Transaction Committee has been authorized to approve refunds without requiring a court ruling, reducing bureaucratic delays. Companies involved in digital transactions, telecommunications, and banking will also bear greater legal responsibility for financial losses suffered by victims.
The draft decree will now undergo further legal review before being published in the Royal Gazette, with enforcement expected by February 2025. Once implemented, the strengthened regulations will serve as a key tool in combating cybercrime, call center scams, and online fraud.