Ministry of Commerce's surveillance teams carried out 1,797 field tours on gold and jewelry markets and outlets across all regions of the Kingdom during the second quarter of 2023. These tours resulted in issuing 272 immediate violations to non-compliant establishments, which included the absence of hallmarks, incomplete invoice details, and lacking licenses. In accordance with the Precious Metals and Gemstones Law, those who violate the regulations are subject to imprisonment for up to two years and fines of up to 400,000 Saudi riyals, or either of the two penalties.
The Ministry of Commerce's surveillance teams conduct regular inspection tours on gold sales outlets throughout the Kingdom to ensure the legality of their operations and their compliance with the Precious Metals and Gemstones Law, as well as the Anti-Commercial Fraud Law and Anti-Money Laundering Law.