The Human Resources and Performance Development Department, in cooperation with IT Department at the Cooperative and Agricultural Credit Bank (CAC Bank), organized a training course to combat fraud via the SWIFT system, for a number of employees of the relevant bank departments, which will continue during the period from 9 to 11 of July, with international trainer Fadi Amoui via Zoom from Dubai.

At the opening of the course, Amoui spoke about the nature of the course, which is training on the (Payment Controls) service, which will continue to be applied for a period of 3 to 4 months at successive intervals. It is the program that helps detect financial fraud, in addition to the fact that it is not enough to wait until a transaction occurs to detect fraud, it prevents financial fraud from occurring in the first place and proactively.

The Business Development Sector Assistant - Technical Director of SWIFT system at CAC Bank, Muhammad Abu Hatem, explained that the international company SWIFT provided a package of basic services during this year, and the bank recently subscribed to it, and those services are being activated, including anti-fraud (Payment Controls).

Abu Hatem added: “Due to the rapid technological development, new crimes have emerged that have been listed globally as a form of organized crime, called banking fraud crimes.”

Abu Hatem pointed out that the course comes as a continuation of “the accumulated experience that the Cooperative and Agricultural Credit Bank (CAC Bank) possesses in the areas of combating fraudulent patterns, and to adapt the overall multiple capabilities that the bank possesses and based on the goal of preserving the integrity of the monetary and banking system.”