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14 Feb 2022

ThetaRay to Aid Mashreqbank in Identifying Fiscal Crimes

The Index Today

Israel’s ThetaRay is set to employ advanced AI technology to help Dubai’s Mashreqbank PSC in identifying financial crimes involving transfers of cross-border payments.

As per an official statement, Mashreqbank is reported to be ThetaRay’s first client in the UAE.

According to the group Head of Compliance at Mashreqbank, Scott Ramsay, “ThetaRay’s technology allows banks to effectively thwart financial crime risks in the increasingly complex space of cross-border payments,” Bloomberg News reported.

The UAE has been remarkably circumspect in dealing with financial fraud by taking the necessary measures to prevent money laundering and the funding of terror groups.

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