MUSCAT, 8 August 2015 – The Association of Certified Fraud Examiners (ACFE) has formed a local chapter comprising over 90 members in the Sultanate. The formalisation of ACFE Oman chapter was done with the signing of an agreement at the College of Banking and Financial Studies (CBFS) in the presence of Dr. Ahmed Mohsin Al Ghassani, Dean of CBFS. The ceremony was attended by senior representatives of the Sultanate's banking, financial and corporate sectors.
Congratulating the ACFE Oman chapter, Dr. Ahmed Al Ghassani said: “CBFS is proud to support the ACFE activities in Oman, thereby strengthening co-operation and coordination among various stakeholders to adopt the best practices for learning and exchange of knowledge to check the spread of financial fraud in all arenas. CBFS has been helping the financial services industry in the Sultanate for its various training needs and will extend all support to ACFE to complement government efforts aimed at achieving financial stability and security in the country."
ACFE is an internationally reputed anti-fraud organisation and provider of anti-fraud training and education, with its focus on reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. The CBFS will support and provide its services for ensuring the smooth functioning of the Oman chapter.
Thomas Totton, General Manager - Internal Audit, Bank Muscat and President of the Oman chapter of ACFE said: “The Oman chapter of ACFE is thankful to CBFS for facilitating a unique opportunity for networking of certified fraud examiners through professional interaction and education, raising the level of competence within the profession. The mission of ACFE is to reduce the incidence of fraud and white collar crimes, and to assist members in its detection and deterrence. At a time when financial crimes are widespread around the world, the strengthening of co-operation and coordination among various government, banking and financial institutions is vital to prevent and control crimes through the latest technological applications and exchange of expertise in this area."
Financial crime or white-collar crime covers a wide range of criminal offences, which affect individuals, companies, organisations and nations, and have a negative impact on the entire economic and social system through considerable loss of money. Financial crimes mainly relate to payment cards, money laundering, counterfeit currency and fraud. These crimes often have an international dimension and are committed through a variety of channels, including the Internet.
To accomplish its mission, the ACFE provides bona fide qualifications for certified fraud examiners through administration of the CFE examination; requires practitioners to adhere to a strict code of professional conduct and ethics; provides leadership to inspire public confidence in the integrity, objectivity and professionalism of certified fraud examiners.