Ministry of Commerce blocks fraudulent online store selling counterfeit gold at half market price
A foreign-based e-commerce platform has been shut down by Saudi Arabia’s Ministry of Commerce after it was found selling counterfeit gold bullion to local consumers. The crackdown underscores the Kingdom’s strict stance on protecting online shoppers, especially from scams involving precious metals, reported timesofindia.indiatimes.com.
Violation detected: Counterfeit gold peddled at half market value
The store, operating outside Saudi Arabia, was caught marketing fake gold bullion to Saudi customers.
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The products were priced nearly 50% lower than market value and falsely advertised as authentic gold
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In reality, the items were copper-based with a gold coating, deliberately designed to mislead buyers
Immediate action taken in coordination with authorities
Upon detecting the fraudulent activity, the Ministry of Commerce moved swiftly to block the online platform in coordination with relevant authorities.
Officials confirmed the store had violated the E-Commerce Law and its executive regulations, both of which aim to ensure transparency and fairness in the digital marketplace.
Advisory to consumers: Verify before you buy
Following the crackdown, the Ministry issued a consumer advisory urging the public to verify online sellers before making purchases. Buyers were encouraged to use the “Enquiry on E-Commerce Documentation” service through the Saudi Business Center platform to check if a store is officially registered and compliant with regulations.
The Ministry further warned against dealing with unverified websites, anonymous social media accounts, or unfamiliar sellers—precautions considered vital to avoid falling victim to scams, particularly when purchasing high-value goods like gold.
