Embracing AI to detect Fraud

HLB HAMT News Team

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HLB HAMT - Accounting Firm in UAE
Phone:- +971 4 327 7775
Mobile:- +971 52 830 7998
Email:- dubai@hlbhamt.com

    Get Free Consultation




    Financial organizations across the globe lose 5 per cent, on average, of their annual revenue because of numerous fraudulent activities, not to mention the loss of productivity & depleted customer confidence as a by-product of the same. With artificial intelligence (AI) in fraud businesses can enhance internal security and simplify corporate operations.

    AI can handle a vast number of transactions quickly, thus helping detect fraud in real-time and rejecting or flagging fraudulent transactions for further investigation. Machine Learning (ML) can train models, thus making this detection process extremely fast.

    Supervised ML-based systems can be monitored by businesses’ analytics wing, which is at higher risk of such attacks. Moreover, these ML models can be subjected to constant scaling and upgrade, thus improving the fraud prevention scores. Integrating supervised & unsupervised machine learning into one fraud prevention payment score will help discover irregularities in emerging data. Combining these two will deliver scores that are twice as predictive as previous methods.

    AI-based technologies can help you evaluate a large amount of transactional data and assist you in identifying fraud patterns and tactics, thus allowing you to save millions through the prevention of any fraudulent attack.

     

    Would you like to rate us on Google?         

     

    Varun R Chandra
    Varun R Chandra
    07:38 25 Apr 21
    HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
    Giuseppe Assi
    Giuseppe Assi
    06:20 31 Jan 21
    I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
    Mohamed Sheriff
    Mohamed Sheriff
    16:16 28 Jun 20
    Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
    218141 JOSEPH THOMAS
    218141 JOSEPH THOMAS
    16:20 23 Jun 20
    Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
    PMI
    PMI
    07:14 23 Jun 20
    In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
    RAVI CHOKSI
    RAVI CHOKSI
    08:28 21 Jun 20
    Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
    Maharajan Subramaniam
    Maharajan Subramaniam
    18:17 06 Jun 20
    High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
    Mohammed L
    Mohammed L
    08:07 05 Jun 20
    We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
    ROY ROSHAN VIVIAN
    ROY ROSHAN VIVIAN
    06:32 04 Jun 20
    Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
    Basil Daniells
    Basil Daniells
    05:55 03 Jun 20
    I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
    Amar Kashyap
    Amar Kashyap
    19:28 02 Jun 20
    Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
    Radz de Jesus
    Radz de Jesus
    16:03 02 Jun 20
    We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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    High time for Gulf nations to follow UAE IPO’s

    HLB HAMT News Team

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    HLB HAMT - Accounting Firm in UAE
    Phone:- +971 4 327 7775
    Mobile:- +971 55 160 1291
    Email:- dubai@hlbhamt.com

      Get Free Consultation




      The Gulf Cooperation Council (GCC) nations have created an atmosphere that is favorable to attracting private investment and personal savings to pour into the Gulf economy. This is a primary focus in order to successfully achieve the aim of broadening national revenue streams.

      The Gulf’s equity markets have experienced significant swings in behavior in recent times, with several achieving the designation of ‘global markets.’ This is particularly evident in the UAE equity marketplace, where IPOs are booming.

      Three Critical Aspects

      Let us look at three critical aspects that are frequently disregarded by business owners, directors, and top management officials, and so it may help improve the chances of success:

      • The primary and secondary markets have different characteristics
      • Variations in motives and objectives between pre-IPO and post-IPO participants
      • The false belief that Public Relations (PR) and Investor Relations (IR) are interchangeable may result in failure.

      Private Equity Transactions

      Last year, the price of private equity transactions increased to an all-time record of $1.1 trillion, owing to increased average transaction volumes as investors poured their cash into industries like technology and medical sciences. This resulted in a surge in public-to-private [P2P] transactions. Huge buyout funds, global corporations, and lenders, loaded with cash and spurred by increasing share market values, went on a deal-making frenzy in 2021.

      Pitfalls of IPO

      • The discrepancy between the IPO offer price and the first-day closing price is known as underpricing
      • The 30-day stabilization period following the listing of a business
      • The value of a company’s stock compared to a country’s index over a period

      Organizations today considering a public offering should be aware of the significant risk of failure. Both issuers and shareholders still have a long way to go to realize the actual market possibilities of listed firms. As IPOs are popular in the UAE, they are essentially non-existent in the other GCC nations. This can be attributed to the lack of efforts by IPO-related organisations, which are turning out to be a serious flaw that should be remedied at the earliest.

       

      Would you like to rate us on Google?         

       

      Varun R Chandra
      Varun R Chandra
      07:38 25 Apr 21
      HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
      Giuseppe Assi
      Giuseppe Assi
      06:20 31 Jan 21
      I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
      Mohamed Sheriff
      Mohamed Sheriff
      16:16 28 Jun 20
      Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
      218141 JOSEPH THOMAS
      218141 JOSEPH THOMAS
      16:20 23 Jun 20
      Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
      PMI
      PMI
      07:14 23 Jun 20
      In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
      RAVI CHOKSI
      RAVI CHOKSI
      08:28 21 Jun 20
      Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
      Maharajan Subramaniam
      Maharajan Subramaniam
      18:17 06 Jun 20
      High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
      Mohammed L
      Mohammed L
      08:07 05 Jun 20
      We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
      ROY ROSHAN VIVIAN
      ROY ROSHAN VIVIAN
      06:32 04 Jun 20
      Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
      Basil Daniells
      Basil Daniells
      05:55 03 Jun 20
      I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
      Amar Kashyap
      Amar Kashyap
      19:28 02 Jun 20
      Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
      Radz de Jesus
      Radz de Jesus
      16:03 02 Jun 20
      We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
      Next Reviews
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      Whatever your question our team will point you in the right direction

      Start the conversation

      The UAE proposed the ‘Green Visa’ programme 2022

      HLB HAMT News Team

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      HLB HAMT - Accounting Firm in UAE
      Phone:- +971 4 327 7775
      Mobile:- +971 55 160 1291
      Email:- dubai@hlbhamt.com

        Get Free Consultation




        The UAE Cabinet has declared the launch of a new resident visa category, the Green visa, which is one of the most significant improvements to the UAE visa system in years. As part of the announcement, a new type of Green Residence Permit for entrepreneurs, skilled personnel, self-employed professionals, and family members.

        The program allows people to remain in the nation for up to six months after their residence permit has been revoked or lapsed.

        5-year Green Residence Permit

        Without the necessity for an employer or sponsor, qualified professionals can acquire a five-year green residence visa. The following are the categories:

        I. Self Employed or Freelance Individuals

        There is no requirement for a sponsor or an employer for this 5-year resident visa. As a minimum academic requirement, a bachelor’s degree or specialised certificate is necessary. Furthermore, the individual’s annual self-employment income for the previous two years must have been at least Dhs360,000.

        II. Skilled Employees

        There is no requirement for a sponsor or an employer for this 5-year resident visa. Candidates must be employed and classified in one of the first, second, or third occupational levels.

        III. For business partners or investors

        This residence visa allows investors to stay for five years while starting or expanding a business. It replaces the previous residence, which was just two years long. The prerequisites include permission and proof of investment.

        IV. Family Members

        Children sponsorship age limit have been elevated from 18 to 25, with no age limit for unmarried daughters. Children of determination are given a residence visa regardless of their age. Green residence visa holders may issue residence permits to first-degree relatives, with the family members’ residency having the same duration as the primary resident visa holder.

        The proposed Green visa programme focuses on strengthening the UAE’s profile as an attractive location to lure foreign talents and skilled professionals, as well as the adaptability of the labour force.

         

        Would you like to rate us on Google?         

         

        Varun R Chandra
        Varun R Chandra
        07:38 25 Apr 21
        HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
        Giuseppe Assi
        Giuseppe Assi
        06:20 31 Jan 21
        I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
        Mohamed Sheriff
        Mohamed Sheriff
        16:16 28 Jun 20
        Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
        218141 JOSEPH THOMAS
        218141 JOSEPH THOMAS
        16:20 23 Jun 20
        Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
        PMI
        PMI
        07:14 23 Jun 20
        In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
        RAVI CHOKSI
        RAVI CHOKSI
        08:28 21 Jun 20
        Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
        Maharajan Subramaniam
        Maharajan Subramaniam
        18:17 06 Jun 20
        High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
        Mohammed L
        Mohammed L
        08:07 05 Jun 20
        We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
        ROY ROSHAN VIVIAN
        ROY ROSHAN VIVIAN
        06:32 04 Jun 20
        Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
        Basil Daniells
        Basil Daniells
        05:55 03 Jun 20
        I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
        Amar Kashyap
        Amar Kashyap
        19:28 02 Jun 20
        Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
        Radz de Jesus
        Radz de Jesus
        16:03 02 Jun 20
        We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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        Dubai adopts ‘Virtual Assets Law’ to stimulate Crypto Investments

        Lavin Nalinababu, Business Consultancy

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        HLB HAMT - Accounting Firm in UAE
        Phone:- +971 4 327 7775
        Mobile:- +971 55 160 1291
        Email:- dubai@hlbhamt.com

          Get Free Consultation




          Dubai, the UAE’s financial hub, has taken a giant step forward in the global crypto space, announcing an unparalleled law to govern virtual assets in order to attract potential forms of enterprise as regional economic rivalry becomes more competitive.

          Virtual asset services will be regulated, monitored, and controlled by the Dubai Virtual Asset Regulatory Authority (VARA). The authority established the rules and procedures that oversee virtual asset operations, such as management, clearing, and settlement services. Also, VARA will function as the primary custodian for this niche sector, with the goal of anchoring the world’s virtual assets, which include cryptocurrencies and NFTs.

          Let’s dive straight into the details of Dubai’s virtual assets law:

          1. An individual who wishes to engage in any of the virtual asset operations must first establish a presence in the city.
          2. It is against the law for anybody in the emirate to participate in activities without first obtaining VARA approval.
          3. VARA’s primary tasks are as follows:
            • Organizing the issue of virtual assets and tokens, as well as their trade.
            • Virtual asset service providers are regulated and authorised.
            • Guaranteeing the utmost layers of safety for the personal data of participants,
            • The management of virtual asset platforms and portfolios,
            • Checking transactions and preventing the price manipulation of virtual assets
          4. The following activities are subject to VARA authorisation and control:
            • Services for exchanging virtual assets and currencies
            • Services for virtual asset custody and management
            • Service transaction between one or more types of virtual assets, and
            • Services for the transfer and administration of virtual assets
          5. A decision made by the board of directors of the Dubai World Trade Centre would define the activities that represent a breach of the requirements of this virtual asset law and its associated decisions, as well as the penalty imposed on an offender. Other than imposing a penalty, Dubai VARA has the right to revoke the permission for up to 6 months, cancel the permit, and collaborate with the Emirate’s competent commercial licensing body to revoke the commercial license.

          The Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, remarked that “the law presents a vital step that aims to advance the digital sector and protect the rights of investors, along with providing the most advanced virtual asset ecosystem in terms of organization, governance, and security.”

          The law defines the responsibilities and powers of the VARA authority, which will be deemed the responsible authority to govern, oversee, and manage virtual asset services, and enters into effect when it is released in the official Gazette.

          Except for the Dubai International Financial Centre, the virtual assets law will pertain to all special development zones, the Dubai mainland and free zones in the Emirate. The Dubai Virtual Asset Regulation Law strives to establish Dubai as a global hotspot for the virtual asset market as well as to play a role in determining the industry’s evolution.

          As the globe shifts its paradigm towards technological developments like cryptocurrencies and blockchain, the new virtual assets law will drive the crypto sector in the UAE.

          Please visit the link for the most up-to-date information about crypto news in the UAE.

           

          Would you like to rate us on Google?         

           

          Varun R Chandra
          Varun R Chandra
          07:38 25 Apr 21
          HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.
          Giuseppe Assi
          Giuseppe Assi
          06:20 31 Jan 21
          I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more
          Mohamed Sheriff
          Mohamed Sheriff
          16:16 28 Jun 20
          Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
          218141 JOSEPH THOMAS
          218141 JOSEPH THOMAS
          16:20 23 Jun 20
          Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
          PMI
          PMI
          07:14 23 Jun 20
          In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
          RAVI CHOKSI
          RAVI CHOKSI
          08:28 21 Jun 20
          Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
          Maharajan Subramaniam
          Maharajan Subramaniam
          18:17 06 Jun 20
          High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
          Mohammed L
          Mohammed L
          08:07 05 Jun 20
          We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more
          ROY ROSHAN VIVIAN
          ROY ROSHAN VIVIAN
          06:32 04 Jun 20
          Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
          Basil Daniells
          Basil Daniells
          05:55 03 Jun 20
          I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
          Amar Kashyap
          Amar Kashyap
          19:28 02 Jun 20
          Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
          Radz de Jesus
          Radz de Jesus
          16:03 02 Jun 20
          We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
          Next Reviews
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          Whatever your question our team will point you in the right direction

          Start the conversation
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