GCC Fraud Summit 2008 (GCCFraud2008)
|Event Date/Time: May 26, 2008||End Date/Time: May 29, 2008|
|Registration Date: May 26, 2008|
|Early Registration Date: Mar 06, 2008|
The fight against money laundering is a continuing and ever-growing international battle as more laws are passed by an ever increasing number of countries.
The UAE is attracting investment like other developed countries. Due to this, it is also considered an attractive place for money laundering because of its wealth and open economic policies.
In October 2007 the Central Bank of the UAE announced that it had frozen 17 accounts totalling $1.3 million because of suspected links with terrorism financing. The UAE’s diligence in hunting down irregular financial transactions stretches back a number of years and serves as a deterrent.
December 2007 saw the launch of a special task force through a co-operation between the UAE Central Bank and a specialised unit of Dubai Police: “The Anti-Money Laundering Unit of The Criminal Investigation Department”
This demonstrates both the sense of urgency and the need for such legislation and practices in the region and makes an event of this sort quite strategic.
Expected number of delegates: 50
Why is it hot/important?
The GCC market is growing constantly as is the UAE in particular. As the Middle East is perceived in a certain way by international investors and markets, it is essential that this perception is changed asap.
The task force that has been put together is a great example of the importance that the UAE government is giving – and also of the fact that there is indeed a problem!
Potential Topic Areas
o Building a Fraud prevention culture
o Integrated Fraud prevention and detection
o Relationship between risk management and Internal audit
o Anti-Fraud programmes – balancing compliance with best practice
o Preparing your department for an investigation
o Implementation of an operational risk management framework
o Corporate Governance – new requirements and legislation
o Challenges for the Middle East
o Whistle blowing
o Business Continuity and crises management
o ERM (enterprise Risk Management)
o Modernising the Internal Audit Function
o Identifying new and emerging risks
o Collecting structured and unstructured data
o Identifying potentially fraudulent transactions
o IT Audit
o Credit Cards (identity theft?)