Dubai Police and Visa Forge Alliance to Combat Economic Crimes
Dubai, United Arab Emirates, 21 January 2024: In a significant move to intensify efforts against fraud and financial crime, Visa, a world leader in digital payments, has signed a Memorandum of Understanding (MoU) with Dubai Police to join the Operation Center for Economic Crimes (OCEC). The agreement underscores both organizations’ commitment to combatting fraud and financial crime, while reinforcing their longstanding partnership.
Dubai Police was represented at the signing by His Excellency Lieutenant General Abdullah Khalifa Al Marri, the Commander-in-Chief of Dubai Police; His Excellency Expert Major General Khalil Ibrahim Al Mansouri, Assistant Commander-in-Chief for Criminal Investigation Affairs; His Excellency Major General Ahmed Mohammed Rafee, Assistant Commander-in-Chief for Administration Affairs; and His Excellency Major General Saif bin Abed, Director of the General Department of Finance.
Meanwhile, Dr. Saeeda Jaffar, Visa’s SVP and Group Country Manager for GCC, led the delegation from Visa that included Charles Lobo, Visa’s Regional Risk Officer for Central and Eastern Europe, Middle East and Africa (CEMEA); Salima Gutieva, Visa’s VP and Country Manager for UAE; Neil Fernandes, Visa’s Head of Risk Services for MENA; and other executives.
The MOU was signed by HE Lt. Gen. Abdullah Khalifa Al Marri, the Commander-in-Chief of Dubai Police, and Charles Lobo, Visa’s Regional Risk Officer for CEMEA.
Located at the Dubai Police HQ, the OCEC is an innovative initiative leveraging innovative methods and cutting-edge technology to protect residents, businesses and local communities against financial crimes.
His Excellency Lieutenant General Abdullah Khalifa Al Marri, the Commander-in-Chief of Dubai Police, stated that the Memorandum of Understanding between the Dubai Police and Visa arises from the activation of mechanisms for joint cooperation to find tools and enablers that enhance the exchange of information about cases related to economic and financial crimes.
He affirmed Dubai Police's commitment to decisively confronting such crimes, noting that the state has exerted significant efforts to combat economic crimes. He pointed out that the Emirate of Dubai is globally recognized for its pioneering methods in fighting these crimes, earning it the trust of various prestigious and renowned international brands.
His Excellency Lieutenant General Al Marri explained that the MoU represents a step forward in the joint efforts, projects and initiatives to bolster against fraud and cybercrimes.
Dr. Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for GCC, commented: “In today’s digital-first world, scams are evolving in sophistication with criminals using new approaches to trick unsuspecting consumers. Our recent Stay Secure study found that while 61% consumers in the UAE claim to be scam-savvy, 90% of them are likely to miss fraud warnings. Moreover, 77% consumers are likely to respond to positive messages from fraudsters.”
She added: “The OCEC is a decisive step forward in the fight against financial crime. The agreement fulfills Visa’s commitment to enhancing cooperation with our public and private sector partners to better protect consumers, businesses and wider payments ecosystem. Visa is proud of this unique initiative and our long-standing partnership with Dubai Police, and we look forward to more collaboration opportunities in the future.”
Under the terms of the agreement, Visa will help establish the goals, structure, and processes of the OCEC, organize knowledge transfer, conduct training and workshops on payment security and financial crime, participate in initial meetings, pilot and concept validation, and cooperate on live investigation cases.
Visa has actively collaborated with Dubai Police through initiatives such as the annual Stay Secure campaign since 2020. This campaign aims to fortify efforts in combating fraud and cybercrime, providing resources and actionable insights to consumers so they can confidently identity and protect themselves from fraud.