fraud

Cybersecurity

AI-powered scams are on the rise

Arnold Pinto 23/12/2024 0

Making fraud harder to spot As artificial intelligence (AI) technology advances, scammers increasingly use AI tools to create more convincing and harder-to-detect fraud. From deepfakes to personalised phishing attempts, AI is transforming the way criminals operate, making scams feel more real

Cybersecurity Gitex

Chainalysis: Romance and address poisoning scams on the rise

News Desk 2 01/09/2024 0

As average lifespan of scams falls Cryptocurrency-related scams are surging in 2024, with billions of dollars flowing into fraudulent schemes, according to a new study by Chainalysis. The study by the New York, US-headquartered blockchain data company reveals that these scams are evolving, significantly shifting toward more targeted attacks. Chainalysis’ report

NEWS DESK

Ministry of Economy: New law on combating commercial fraud bolsters UAE’s legislation and protects consumers

News Desk 2 01/07/2024

The Ministry of Economy (MoEc) has clarified that Federal Decree-Law No. (42) of 2023 on Combating Commercial Fraud contributes to the creation of an integrated legislation that will significantly enhance consumer rights protection and combat commercial fraud in the UAE, aligning with the best global standards. This law introduces comprehensive mechanisms and regulations

Banking

Fraudulent Bank Transactions May Surge 153% By 2029

News Desk 2 27/06/2024 0

Growing From $19 Billion In 2024 Juniper Research has released a startling report indicating a projected 153% increase in the value of fraudulent banking and money transfer transactions over the next five years. Starting from $19 billion in 2024, this forecast highlights a growing global concern for the financial sector. According to the report, fraudsters’ […]