Two Bangladeshi expatriates were arrested in Riyadh for running an illegal remittance racket, transferring money to third parties outside the Kingdom without the required authorization. Acting on a tip-off, the Riyadh police raided a grocery shop in the Batha neighborhood from where the two were running their racket, Riyadh Police spokesman Col. Fawaz Al-Mayman said. The police confiscated 16 books with records of the transactions, illegal SIM cards, a foreign checkbook used as collateral, and SR 26,640 in cash. The two men, both in their 40s, are now in custody prior to referring the case to the competent authorities for further action. The racketeers offered expatriates attractive exchange rates for money transfers to their home countries. The crime not only affects the Kingdom's economy, but also harms individuals who are tricked by such offers. Such illegal money transfers make it difficult to maintain accurate information on cash flows. They also deprive authorized money exchanges and banks of legitimate business.