A Dubai bank was defrauded of $35 million USD when an attacker used Deep Voice Artificial intelligence to simulate a client in a call to a branch manager.
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Bahrain investment bank GFH gets set to pick full ownership in Al Khaleeji Commercial Bank
Dubai: Bahrain investment bank Gulf Finance House (GFH) is in the final stretch to pick up full ownership of Khaleeji Commercial Bank, in what will be one of the bigger consolidations within the …
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Tunisia in talks with Saudi Arabia, UAE to obtain funds
Tunisia’s Central Bank is in advanced talks with Saudi Arabia and the United Arab Emirates (UAE) to obtain financial resources, a senior banker said …
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Expo 2020 Dubai: Sheikh Maktoum meets Slovak prime minister
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance, met the prime minister of the Slovak Republic, Eduard Heger, at Expo 2020 …
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World Food Day: Dubai’s ‘Food Fridge’ completes one year of community service
Dubai: A community ‘Food Fridge’ in Dubai that offers packed food items for free has completed exactly one year this World Food Day (). It was on the previous World Food Day (in 2020) that the UAE …
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Expo 2020 Dubai: Food surplus from restaurants, catering to be distributed to local charities
Food surplus from Expo 2020’s restaurants, food halls and workforce catering will be repurposed and distributed to local charities with the logistical support of the UAE Food Bank throughout the …
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Importance of Islamic finance discussed
Khaled Mohammed Balama, Governor of the Central Bank of the UAE (CBUAE), launched day two of the Future of Finance conference, hosted by the CBUAE, …
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Abu Dhabi’s IHC to IPO subsidiary Multiply this year, CEO says
The planned transaction, which could value Multiply at $2.2-$2.7bln, would be the latest in a string of listings and deals for IHC …
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Deepfake voice used to steal USD35 million from UAE bank
An uncovered court document reveals that a deepfake voice was used to steal USD35 million from a bank in the United Arab Emirates last January. It’s said that a branch manager from an undisclosed bank …
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Deepfaked Voice Enabled $35 Million Bank Heist in 2020
An investigation into the defrauding of $35 million USD from a bank in the United Arab Emirates in January of 2020 has found that deepfake voice technology was used to imitate a company director known …
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Bank Robbers in the Middle East Reportedly ‘Cloned’ Someone’s Voice to Assist with $35 Million Heist
Deepfake technology was used to simulate the voice of a bank manager’s business associate, which led to illegitimate financial transfers.
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As UAE economic recovery speeds up, how will my money stack up?
The UAE economy is rebounding fast from the downturn caused by COVID-19, multiple reports from key regulators showed these recent weeks. But how fast are these sectors bouncing back. Also, how does …
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M. Stanley banker who advised on Aramco IPO to join Saudi Fransi Capital-source
One of Morgan Stanley’s top dealmakers, who helped advise oil giant Saudi Aramco on its initial public offering (IPO), is leaving to join the investment banking arm of Banque Saudi Fransi. Motaz …
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AS&H, Clifford Chance play key role in $1.2bn Acwa Power IPO
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance has acted as issuer’s counsel to Acwa Power, a Saudi-based utility project developer, on its $1.2 billion landmark IPO …
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Finance Minister receives UAE Ambassador
Khartoum, Oct. 12 (SUNA)-Minister of Finance and Economic Planning Dr. Jibril Ibrahim has commended the strong relations linking Sudan and the United Arab Emirates (UAE) in all fields. This came when …
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Why the UAE’s finance, insurance advisors should be prepared for change
As the sector develops, and more financial advisory firms set up shop in the Dubai International Financial Centre (DIFC), there is a need for clarification on the rules, according to a leading industr …
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AS&H, Clifford Chance act as counsel to Acwa Power IPO
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance has acted as issuer’s counsel to Acwa Power on its $1.2 billion landmark IPO and $10.9 billion listing on the Saudi …
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