As part of its ongoing efforts to enhance professional competencies and reinforce the resilience
of the Egyptian banking sector, the Central Bank of Egypt (CBE), in collaboration with the Egyptian
Banking Institute (EBI), has announced the launch of a new training initiative titled Foundations of
Fraud Combating The program is designed to address the growing complexity and rapid evolution
of banking fraud schemes and strengthen institutional preparedness
Raising Awareness and Establishing a Unified Approach to Fraud Combating
Commenting on the initiative, Mr Mostafa Khidr, General Manager of the Fraud Combating
and Financial Crimes Centralized Department at the Central Bank of Egypt, stated that the
program represents a strategic opportunity to raise awareness and promote a shared
understanding of various fraud patterns in the banking sector and the overarching
frameworks for combating them He emphasized the importance of achieving swift response
mechanisms and effective mitigation techniques, while also establishing a clear and unified
definition of banking fraud Mr Khidr stressed that fraud combating is a collective responsibility
noting that even the most robust policies, procedures, and internal control systems can only be
effective when supported by continuous awareness, vigilance, and commitment from financial
institutions, their employees, and customers
Strengthening Human Capital to Build a Secure Banking Sector
Central Bank For his part, Dr Abdel Aziz Nossier, Executive Director of the Egyptian Banking Institute
highlighted that the launch of the “Foundations of Fraud Combating training program
marks a new milestone in the ongoing efforts to enhance the capabilities of banking professionals
He noted that the program, which was developed under the supervision of the Central Bank of Egypt
aims to equip participants with essential theoretical knowledge and practical skills required to detect
prevent, and mitigate fraudulent activities Dr Nossier further emphasized that investing in human capital
development is a cornerstone for building a more secure, resilient, and sustainable banking sector
Comprehensive Training for Banking Sector Employees Across All Levels
Central Bank The newly launched program targets banking sector employees across all specializations
and job levels, aiming to strengthen their ability to identify and counter fraud risks effectively
Participants will gain in-depth insights into the different types of fraud that may affect bank
employees or customers, along with proven methods to prevent and block fraudulent attempts
In addition, the program highlights the impact of fraud on the banking sector through real-life
case studies and provides clear guidance on the appropriate actions to be taken when a fraudulent
incident is detected or suspected, reinforcing best practices in financial crime prevention and risk management