UAE Banks Federation supports 2017 fraud conference Middle East as strategic partner

28 December 2016

The UAE Banks Federation (UBF), the professional body representing 49 banks in the UAE, announced today its whole weight contribution as strategic partner for the 2017 ACFE Fraud Conference Middle East, set to take place in Dubai from 29-31 January 2017 at Atlantis, the Palm.

Held under the patronage of His Excellency AbdulAziz Al Ghurair, Chairman of UAE Banks Federation (UBF), the event is hosted by the Department of Economic Development (DED), Government of Dubai, in partnership with the Association of Certified Fraud Examiners (ACFE).

UBF’s decision to support and patronage to the three-day conference comes in line with its commitment to fight fraud and corruption and safeguard the interests of its members and their customers, especially in a context where cyber-attacks are increasing in frequency, sophistication and impact.

H.E. AbdulAziz Abdulla Al Ghurair said, “The ACFE Fraud Conference offers a significant opportunity for the region’s banking community to learn about the latest trends in fraud prevention and detection and collectively explore effective techniques to tackle fraud attacks. Our support for the conference is an affirmation of our commitment towards protecting our industry and our customers against the growing risk of fraud to reach a more secure banking environment in the UAE.”

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The 2017 ACFE Fraud Conference Middle East will gather an exceptional panel of speakers led by Eugene Kaspersky, CEO of world-renowned cyber-security company Kaspersky Lab, and former Enron CFO Andrew Fastow. Attendees will receive an early glimpse into the contents of the Report to the Nations on Occupational Fraud and Abuse: 2016 Middle East Edition. The report shows that fraud cases examined in the Middle East resulted in a median loss of USD 275,000 (more than AED 1 million) per case — notably higher than the global median loss of USD 150,000.

About UAE Banks Federation

Established in 1982, the UAE Banks Federation is a professional representative body comprising 49 member banks operating in the UAE. The Federation advocates all banks’ interests, and enhances cooperation and coordination among them, in order to promote and upgrade the UAE’s banking industry for the benefit of the banking sector, its customers, and the national economy.

The UAE Banks Federation’s mission and objectives are focused on developing and representing the interests of the member banks and defending their rights. It facilitates the exchange of banking, financial and monetary information in the regional and international fields, and coordinates cooperation around banking procedures and in the areas of legal, technical and administrative affairs. The federation plays a major role in raising public awareness around the beneficial role and distinctive financial, economic and social contribution of the banks to the UAE.

The Federation has an Advisory Council consisting of Bank CEOs which oversees the implementation of the policies, follows up on UBF’s activities and makes necessary decisions, a steering committee and 17 specialized technical committees, covering and discussing all relevant banking issues.

Media contacts:
UAE Banks Federation                                                       
Emad Al Ghadban                                                
Manager, Public Relations  & Communication                                               
Phone: +971 2446 7706                                                   
E-mail: [email protected]                                                                  

© Press Release 2016