UAE bank fined $600k over money laundering risk
The Jersey branch of a Middle Eastern bank has been fined £475,000 ($613,000) for failing to intervene appropriately when two…
Fraud & Ethics
711 articles found
United Arab Emirates Courts Convict Fraudsters; Warn Banks and Telecoms Providers
The onshore and offshore courts of the United Arab Emirates —that is to say, the courts in “mainland” UAE and…
Saudi Arabia effectively combating money laundering
Countries worldwide are taking strict measures to fight money laundering and terror financing. Saudi Arabia is not only at the…
Former FIAU investigator Jonathan Ferris testifies in public inquiry
Former Financial Intelligence Analysis Unit investigator Jonathan Ferris told the inquiry board that the blog posts of murdered journalist Daphne…
CBB warns consumers against dealing with unlicensed institution
The Central Bank of Bahrain (CBB) would like to warn consumers against dealing with unlicensed entities that market investments in…
Germany Probes Deutsche Bank Payments to Saudi Royal Adviser: FT
German prosecutors are investigating two former Deutsche Bank AG employees for allegedly paying $1.1 million to secure the wealth management…
SFO alleges Unaoil agents paid $6mn bribes in Iraq for oil contracts
The UK Serious Fraud Office (SFO) has alleged that people working for Monaco-based consultancy Unaoil paid $6mn in bribes for…
India and UAE take landmark step to stop expats fleeing debt
India has signed a reciprocal agreement with UAE to enforce foreign civil decrees in a move aimed at deterring expats…
Cybersecurity Threats Call for a Global Response
Last March, Operation Taiex led to the arrest of the gang leader behind the Carbanak and Cobalt malware attacks on…
Bank scam gang arrested in UAE, stole thousands from residents
A gang of four phone fraudsters, who were able to steal Dh12,199 from residents' bank accounts, has been sentenced to…
QIIB selects IBM Safer Payments to advance fraud prevention
Qatar International Islamic Bank has selected IBM Safer Payments and has implemented the solution which provides a cross-channel fraud prevention…
UAE Telecom Regulatory Authority warns public of a computer virus spreading fraudulent links
The Telecommunications Regulatory Authority has warned the public against a worldwide virus outbreak that goes by the name of ‘Emotet’.…