The second edition of the Qatar Banks Fraud Management Forum (QBFMF) took place on January 16, 2025, hosted by Al Rayan Bank. The event saw participation from representatives of the Qatar Central Bank, Ministry of Interior, Qatari banks’ fraud risk management and cyber security departments, as well as Ooredoo and Vodafone.
The primary focus was on improving fraud prevention measures to protect both customers and banks amid increasing financial fraud incidents. Discussions highlighted the need for collective national actions to bolster security frameworks and safeguard the financial ecosystem.
Key topics included advanced fraud detection technologies aimed at identifying and preventing fraudulent activities. Emphasis was placed on collaboration between banks, regulatory bodies, and law enforcement agencies to effectively combat fraud. Strategies were also discussed to enhance awareness about potential fraud risks and preventive measures.
Participants concluded with a commitment to continue working together in enhancing fraud prevention efforts to protect financial interests.
Mr. Alexis Neeson, Group Chief Risk Officer at Al Rayan Bank, emphasized: “Protecting customer data and transactions is a top priority for ARB and our peers. We are constantly developing our technologies to ensure the security of accounts and transactions to ensure a distinctive banking experience for customers. We also urge our customers to participate in the protection efforts by raising awareness of the best digital practices and following with any updates we introduce to enhance security through our digital channels.”
Mr. Abdullah Yousef Al Sherawi, Unit Head Fraud Monitoring Department at Al Rayan Bank, added: “We closely and continuously monitor new fraudulent methods that appear globally in the digital field, and in accordance with the directions of GCEO Mr. Fahad Al Khalifa and the ARB management, we update our systems and controls to keep pace with these challenges. We are working hard to strengthen our cooperation with all security, financial and technological institutions to enhance our capabilities in detecting and deterring fraud. This type of forum strengthens cooperation between local banks and mitigates the risks of fraud.”
In conclusion, protecting customers from electronic fraud remains a top priority for Qatar Central Bank and Qatari banks as it plays a vital role in enhancing trust in financial businesses.
Together Against Fraud.
