UAE customers complain as banks issue credit cards without proper ID verification
Fraudsters are believed to be using a loophole found in some UAE banks to pose as customers to take out…
Fraud & Ethics
711 articles found
Tough anti-money laundering frameworks require public-private alliances
In the fast-paced financial world, the battle against financial crime gets more urgent than ever. With criminals becoming increasingly sophisticated…
UAE fines foreign bank Dhs5m for money laundering breaches
The UAE central bank said on Monday it fined a foreign bank operating in the country $1.4m (Dhs5m) for failing…
Turkey removed from FATF money laundering grey list
The international crime watchdog Financial Action Task Force (FATF) removed Turkey from its “grey list” of countries that require special…
Sharjah Islamic Bank joins 'haifin' platform to combat fraud, support digital transformation in banking sector
In a move to enhance efforts to combat fraud and continue digital transformation plans in the banking sector, aligning with…
Two jailed for laundering cash in suitcases from UK to Dubai
Two money laundering cash couriers were imprisoned on 26 April 2024 for their role in transporting illegally obtained money out…
Insights: Here’s how to fight fraud with tokenisation
Residents of the UAE have undoubtedly experienced their fair share of fraudulent phone calls and text messages from scammers attempting…
Internal Auditors Chapter hosts ‘The Anti-Fraud Strategies Masterclass’
Managing Fraud Risk by Preventing, Detecting, and Responding to Fraud was the learning objective for the Masterclass by Iyad Mourtada…
Internal Auditors Chapter hosts ‘The Anti-Fraud Strategies Masterclass’
Managing Fraud Risk by Preventing, Detecting, and Responding to Fraud was the learning objective for the Masterclass by Iyad Mourtada…
Credit card fraud costs global economy $32bn, says AMF
Global credit card fraud losses incurred by financial institutions and individuals reached an estimated $32.3bn in 2021, according to the…
UAE scam alert: Residents warned of online shopping fraud, here's how to stay safe
UAE residents have been warned of electronic fraud and scam by the Abu Dhabi Prosecution. The authority has asked…
DFSA fines bank Mirabaud $3m for anti-money laundering controls failings
The Dubai Financial Services Authority issued a statement stating that it imposed a fine of $3,022,500 (Dhs11,100,131) on the bank…