Home UAE Dubai Israeli firm to help Dubai’s Mashreqbank detect financial crimes It follows Israel and the UAE normalising relations in 2020 by Bloomberg February 15, 2022 Israel-based ThetaRay plans to roll out AI-driven solutions to help Mashreqbank, Dubai lender, detect financial fraud during cross-border payment transfers. Mashreqbank is ThetaRay’s first customer in the UAE, according to a statement. It follows Israel and the UAE normalising their relations in 2020. The UAE has taken several steps in the past to better align with global standards on anti-money laundering and countering terrorist financing. The central bank in recent months levied penalties on multiple banks for breaching anti-money laundering regulations. “ThetaRay’s technology allows banks to effectively thwart financial crime risks in the increasingly complex space of cross-border payments,” Scott Ramsay, group head of compliance at Mashreqbank, said in a statement on Monday. Tags financial crimes Israel Lender Mashreqbank UAE 0 Comments You might also like UAE’s non-oil business activity picks up in April, S&P Global says e& Group refutes report of potential United Group deal UAE leaders mourn passing of Sheikh Tahnoun bin Mohammed UAE announces remote work for public sector workers, MoHRE advises flexible work for private sector