Second forum to combat financial crimes in light of digital transformation

Today in Sana’a, the “Combating Financial Crimes in Light of Digital Transformation” forum took place. It was the second event of its kind, organized by the Institute of Banking Studies in collaboration with the Information Collection Unit of the Central Bank of Yemen.

The forum, with representatives from banks, financial institutions, and stakeholders, sought to highlight the challenges posed by financial crimes amidst digital transformation. It also aimed to examine best practices for improving compliance and digital security within financial institutions, as well as the Central Bank’s role in addressing these challenges.

At the outset, Hammoud Al-Najjar, a board member of the Central Bank, emphasized the need for a collaborative approach between relevant authorities and private sector entities to establish a genuine partnership in fighting financial crimes. This includes sharing expertise and perspectives, coordinating efforts to mitigate risks, minimizing their adverse impacts, and raising awareness ab
out such offenses, particularly those related to money laundering.

He pointed out that the objectives of the forum come within the framework of the state’s directions in combating crime, especially financial crime, which causes economic, security, social and other damage, the tax and cost of which is borne by the national economy and the private sector alike.

Source: Yemen News Agency