Regional AI leader Mozn offers solutions to fight financial fraud

Sajjad Ahmad, Deputy Business Editor

Saudi Arabia’s Mozn, a market leader in enterprise artificial-intelligence technologies, showcased AI-powered solutions to reduce the risks of online financial fraud during the the recently concluded Seamless Middle East 2023 exhibition in Dubai. Dr Mohammed Alhussein, Founder and Chief Executive Officer at Mozn said,"We are committed to introduce new products for businesses and consumers to make their online transactions safe and secure."

Alhussein added, "As a regional AI leader, Mozn to bring anti-money-laundering and Anti-Fraud capabilities to financial institutions across GCC, boosting their compliance journeys and accelerating economic progress." Mozn announced recently a regional expansion that will take the company into the thriving AI, finance and fintech markets of the United Arab Emirates and the GCC.

Alhussein added,"Mozn’s expansion into the GCC market through its UAE office will see it provide innovative regulatory compliance and anti-fraud solutions powered by advanced AI. Aimed at financial institutions such as banks, digital banks, fintechs and other large financial organisations, these solutions make it easier to see the whole board and identify suspicious behaviour patterns in real time."

“The UAE has been making significant strides in enhancing its AML compliance and combating financial fraud, and Mozn’s entry into the UAE market will help accelerate these efforts,” said Dr Mohammed Alhussein. He concluded, “We are excited to begin this next chapter in Mozn’s growth journey as we enter the broader GCC market through our UAE office.

We look forward to collaborating with prominent financial institutions in these markets, re-enforcing their compliance stance and further improving the stability of these nation's financial sectors through our anti-fraud solutions. Mozn firmly believes that our collective efforts contribute to these government's economic diversification initiatives, and it will leave no stone unturned in doing so.”