Saudi banks freeze over 1,200 accounts in probe, number still rising

Saudi Arabian banks have frozen more than 1,200 accounts belonging to individuals and companies in the kingdom as part of the government's anti-corruption purge, bankers and lawyers said on Tuesday.

They added that the number is continuing to rise.

Saudi Arabian authorities arrested 38 high-profile figures on Saturday, including princes and current and former ministers on “anti-corruption” charges. Eleven princes, four current ministers and dozens of former ministers were among those who were detained. The arrest orders came from an anti-corruption committee just hours after the King Salman issued a Royal Decree to form the committee, which is headed by Crown Prince Mohammed bin Salman.