DUBAI, 29th January, 2017 (WAM) — The Department of Economic Development (DED), Government of Dubai, and the Association of Certified Fraud Examiners (ACFE) along with strategic partner UAE Banks Federation (UBF) hosted on Sunday the 2017 ACFE Fraud Conference Middle East in Dubai. Held under the patronage of AbdulAziz Abdulla Al Ghurair, Chairman of UBF, the three-day premiere anti-fraud event brought together key players in the anti-fraud industry and was attended by the top professionals in the region.
Attendees received an exclusive early look at the Report to the Nations on Occupational Fraud and Abuse: 2016 Middle East Edition. The report noted 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.
Renowned IT security expert, and co-founder of Europe’s largest anti-virus company, Eugene Kaspersky spoke, as well as former Enron CFO Andrew Fastow, among others.
“The Department of Economic Development is committed to work with ACFE in educating professionals in Dubai and across the region on eliminating fraud and protecting the integrity of business. We understand the importance of anti-fraud mechanisms and systems and in positioning Dubai as the preferred place to invest and do business,” said Ali Ibrahim, Deputy Director General of DED.
“The Dubai Plan 2021 envisions Dubai as a pivotal hub in the global economy, and a smart and sustainable city of happy, creative and empowered people. An essential driver of those goals we have set for ourselves is knowledge cutting edge knowledge that would allow the increasingly diverse businesses and communities in this city to remain proactive and grow sustainably,” said Ibrahim, adding that the conference would add significantly to the knowledge capital of Dubai and the wider regional population it connects across trade and services.
Mohammed Hilal Al Murooshdi, CEO of the Internal Audit sector in DED, said: “The strategies and activities of the DED are guided by the wise directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to keep the emirate topmost in the ease of doing business, in addition to making it a highly advanced digital economy that ensures competitive and sustainable growth.”
Al Murooshdi added, “Our support to the ACFE Middle East Fraud Conference is part of our strong commitment to promoting the exchange of critical knowledge on fraud prevention and competitive business practices among professionals worldwide.”
James D. Ratley, President, ACFE said, “It has been wonderful working with the DED and UBF to produce an event that advances discussions of ideas and best practices in the industry. This conference continues to be an invaluable opportunity for the top anti-fraud professionals in the region to learn about new technology and tools to aid them in fraud prevention and detection.”