instrumental in spearheading these efforts , resulting in prosecutions and deportations .
While this demonstrates the UAE ’ s commitment to clamping down on illicit financial flows and enhancing the integrity of its financial system , it also shows the need for IT and technological support in combating financial crime .
Role of CSPs
In response to these challenges , CSPs themselves have a duty to take control of risk assessments and to prevent fraud . For effective fraud prevention and minimisation of payment defaults , it is essential to
With noncash payments in the UAE growing from 39 % in 2018 to 73 % in 2023 , the momentum is clear . check creditworthiness and other factors that could indicate possible fraud as early as during customer onboarding , and throughout the entire customer cycle . Only those who report suspicious behaviour immediately can isolate harmful cases .
There is no denying that companies are keen to improve control and therefore data security , relying heavily on IT . However , experts warn that many telecommunications companies , in particular , are still inadequately equipped and work with a fragmented
INTELLIGENT TECH CHANNELS 39