UAE Banks Federation (UBF), the Central Bank of the UAE (CBUAE), Abu Dhabi Police, and Dubai Police have announced the launch of the UAE’s first national fraud awareness campaign.
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Microsoft has developed a solution using artificial intelligence (AI) that can identify fraudulent mobile banking transactions in less than two seconds.
A total of 274 cyber-attacks targeted government, semi-government and private sector entities in the UAE during the first seven months of the year.
Security experts have reportedly said that UAE residents are being targeted by scammers using phone calls that could land victims with huge bills.
The Federal Tax Authority (FTA) has announced a new electronic tracking system, which uses digital tax stamps to ensure Excise Tax on tobacco products has been paid at an awareness meeting held in Dubai.
The Abu Dhabi Police has reportedly arrested a gang of 11 people of Asian origin who committed phone fraud.
The new solution offers businesses a collection of antifraud features, designed to keep online merchants secure and their customers safe.
According to the Abu Dhabi Police, such scams often imitate trademarks and trusted websites, with the aim of stealing personal information, such as usernames, passwords, credit card numbers and other information that may lead to problems for users, who are required to report these crimes to the police, to track and catch the criminals.