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Dubai: Saudi Arabia’s Mozn, which has entered the enterprise-grade artificial intelligence space, has expanded its reach by adding a base in the UAE. The focus will be on fraud prevention technologies as well as AML/CFT solutions.
“The UAE has made significant progress in improving anti-money laundering compliance and fighting financial fraud, and Mozn’s entry into the UAE market will help accelerate these efforts,” said Dr. Mohammad Al Hussain, Founder and CEO.
Targeting financial institutions, Mozn’s solution makes it easier to identify patterns of suspicious behavior in real-time. “We look forward to working with prominent financial institutions in these markets to strengthen their compliance positions and further improve the stability of the financial sectors in these countries through our anti-fraud solutions,” Alhussein said.
Its ‘FOCAL’ – AI-driven risk and compliance platform – plays a major role in the fight against financial crime in the region. It screens and monitors clients and their transactions using advanced name-matching algorithms optimized for Arabic and names, and checks them against 1,300+ automatically updated global and local sanctions and PEP lists to help meet AML and KYC/KYB requirements .
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