Article 12 of the Saudi Credit Information Law

This article sets out the violations of the provisions of the Credit Information Law, which are:

1. Practicing the activity of credit information companies without a license from the Institution.
2. Companies' breach of the license conditions and controls.
3. Disclosure by any member, company or body subject to the Law, or any of its staff, of information that the Law makes confidential, where it reached them because of their work, whether during the work or after leaving it, in cases other than those the Law provides for.
4. Using or exploiting credit information for any unlawful purpose or one contrary to the Law.
5. A member's or company's delay in updating information beyond the dates set in the Implementing Regulations, or failure to correct an error immediately upon discovering it.
6. Providing incorrect or forged data about a consumer.
7. Failing to provide the requested credit information by members bound by the membership agreement, or slowness and delay in providing it beyond the Regulations' deadlines.
8. Any other violation of the provisions of the Law and its Implementing Regulations.

Note that the duty of confidentiality continues even after leaving work, and that the update and submission deadlines are set by the Implementing Regulations, not by this article. The last item also means the list is not limited to what is mentioned.

The article works together with Article 11, which lets the Institution detect violations, investigate them and prosecute violators before the committee, and with Article 13, which sets the penalties: a fine of up to SAR 1,000,000, with the maximum doubled for a repeat offense, temporary suspension of the license, and its cancellation.

Anyone accused of committing one of these violations, or harmed by one, would do well to consult a lawyer specializing in banking and finance.