A scientific study prepared by the Naif Arab University for Security Sciences in cooperation with the International Criminal Police Organization (Interpol) revealed the extent of financial fraud crimes currently directed to Arab countries via the Internet, noting that there are 5 types of financial fraud that are the most common in the Arab world, and 24 criminal methods were used to reach the victims.
The study entitled “The Role of Financial Institutions in Reducing Information Crimes” issued in early January 2022 clarified; There are important differences in the willingness of the concerned authorities to confront financial crimes online, with regard to the electronic reporting mechanisms available to victims of electronic fraud. Through the analysis of 503 fraudulent advertisements, it was found that the number of daily visits from potential victims of these fraudulent sites exceeds 137,000 visits per day, topped by 5 fraud methods in the areas of investment, business email, romantic text message fraud, and sexual blackmail.
The study, which aims to identify the criminal tools, methods and tactics of online fraudsters, and their mechanism of access to victims, revealed a complex criminal method designed to target the victim twice and in two different ways, requiring the first time the victim to be victimized through fraudulent investment advertisements; As a prelude to entrap him in the second criminal way through advertisements of legal consulting companies claiming to recover the money.
The results of the analysis of fraudulent ads confirmed that fraudsters spread their ads on popular and trusted sites through advertising agents, as well as exploiting electronic advertising models for online advertising agents, taking advantage of artificial intelligence techniques in advertising companies to reach potential victims.
During the study, it appeared that the top five fraudulent domains were published within the limits of 40,000 advertising links online by exploiting the Internet domain registration mechanism, as 93% of the fraudulent domains were registered in the generic top-level domains, and 7% of the fraudulent domains in the country code top-level domains.
This study comes within the framework of Naif Arab University for Security Sciences 2019-2023 strategy that focuses on applied research through the University’s Cybercrime and Digital Evidence Center, which was established in 2021 to be the first Arab reference in empowering Arab competencies in the areas of cybercrime and digital evidence, and the reliable reference in These areas are through supporting and preparing research, developing academic and training programs, and providing consultations and qualitative community awareness services.
It is noteworthy that the Naif Arab University for Security Sciences, the scientific body of the Council of Arab Interior Ministers, is interested in qualifying and developing Arab competencies specialized in the field of combating financial and fraud crimes through its academic, training and research programs, in cooperation with various relevant international institutions. In this context, the Master of Arts in Financial Integrity program has been developed in cooperation with Case Western Reserve University in the United States of America. , and adherence to the regulations and control of suspicious financial activities.