New measures on combating money laundering, terror funding
Justice, Islamic Affairs and Endowments Minister Shaikh Khalid bin Ali Al-Khalifa issued edict 64 of 2017 stipulating the commitments of…
Fraud & Ethics
711 articles found
Central Bank of Kuwait warns over virus – ‘Bad Rabbit’ spread by e-mail
The Central Bank of Kuwait has warned Kuwaiti banks about the ‘Bad Rabbit’ virus, which hit computers in Russia, Ukraine…
UAE Central Bank Governor: Bitcoin 'Easily Used' for Money Laundering
The head of the central bank of the United Arab Emirates is striking a critical tone toward bitcoin. Emirates…
Three Dubai Bankers Cleared Of Accepting Dh37 Million Bribe
Three bank employees have been cleared of accepting bribes worth $10 million, around Dh37million in return for forging bank documents…
A new global solution to money laundering will mainly just help rich countries
The pattern of illegal money flowing from the developing world to the West has been well-established. Funds are stolen…
Salesman jailed for defrauding bank of Dh635,000 in Dubai
A bank salesman, who defrauded his workplace of Dh635,000 after submitting forged documents needed to obtain a loan and a…
FCA Said to End Case Against Ex-Barclays Executive Over Qatar
U.K. regulators dropped a probe into a former Barclays Plc executive over a 2008 fundraising by the bank with Qatar,…
How these UAE ‘bankers’ cheat clients with magic pen, 0% credit card offers
Fraudsters have got their hands on what is known as 'magic pens' to cheat bank customers, the Sharjah Police have…
Resolving bank fraud a lengthy process for UAE customers
If you fall victim to credit card or bank account fraud, it can take several months for the bank and…
Massive fraud puts 54 in Abu Dhabi court
Defence witnesses will take to the stand on Sunday on behalf of 54 men charged with scamming almost 2,000 people…
Companies incur big losses as IT frauds rise
The incidents of IT-based frauds are rising in organisations, raising concern among corporates and external key stakeholders on how to…
Bank employees pocket $10m in bribes
A bank’s business developer, an officer and a salesman who pocketed a $10m bribe to offer bank facilities to ineligible…