Banking sector takes action after reports customers being targeted
banking fraud
Latest in banking fraud
banking fraud
Hefty fines in Dubai: Up to AED2 million for forging credit, debit cards
The crime can also result in imprisonment alongside hefty fines
anti-money laundering
Why API technology is key to tackling financial crime in the UAE
While the UAE’s push to tackle financial crime focuses on regulation, it also provides an opportunity for banks to digitalise and improve their offerings such as adopting APIs that support compliance and protect them from threats and exposure
banking fraud
An online authentication ‘catch-22’
By digitally transforming vs merely digitising, businesses can change security challenges into new opportunities that are more relevant to users and bring value to their journeys
banking fraud
Understanding fraud trends during the coronavirus pandemic
Consumers have embraced digital payments in the Covid-19 era but that does not come without risks, says Hector Rodriguez
banking fraud
Video: Dubai Police arrest 12 cybercriminals targeting overseas victims
Dubai Police arrested two ringleaders of a multi-million dollar cybercrime operation, along with ten of their operatives in a special operation dubbed ‘Fox Hunt 2’.
banking fraud
Dubai Police warn of counterfeit currency exchange scam
Dubai Police officials seized more than AED1 billion in counterfeit currency in 2018
banking fraud
Saudi Finance Ministry warns of cryptocurrency scammers
A Singapore-based company is reportedly using official emblems and claiming the cryptocurrencies will fund Neom
Abraaj Group
From DNA to electronic tagging: Terms of Abdel-Wadood’s $10m bail package
US Attorney’s Office said former Abraaj executive remains under home detention at a Manhattan apartment
banking fraud
UAE remittance group calls for safer landscape to fight financial fraud
Threats and risks are rapidly evolving, according to the vice-chairman of the Foreign Exchange and Remittance Group (Ferg)
banking fraud
Bank manager sentenced to five years in jail in fraud case
A sales woman drawn into the plot was sentenced to six months in prison
banking fraud
UAE Central Bank warns of WhatsApp scams
The warning comes just days after the Dubai Financial Services Authority (DFSA) alerted the public about e-mails from fraudsters
banking fraud
American fraudster claimed ties to Saudi royals, officials say
The 68-year old California woman caused $1.3 million in losses to investors she duped with false claims, according to the US Department of Justice
AbdulAziz Aljouf
Saudi’s PayTabs: Is this the future of banking?
Abdulaziz Al Jouf, CEO of Saudi-based payment solutions company PayTabs, is planning on using elements from cryptocurrency to blockchain and artificial intelligence to ease the payment processes ranging from remittances to SME bank transactions
banking fraud
Convicted Exential Group scammer plans to appeal 500-year sentence
A lawyer for Sydney Lemos says that investors entered into forex trading knowing the risks, making the case a civil – rather than a criminal – matter
Abu Dhabi
Abu Dhabi’s Al Hilal Bank is said to uncover internal fraud
38 people from Asian and European backgrounds were arrested last summer for the ‘unlawful confiscation’ from a UAE bank
banking fraud
Dubai traders in $200m scam sentenced to 500 years in prison
Sydney Lemos and Ryan Fernandez headed the foreign exchange scheme which robbed many of their life savings