NBO hosts security workshop to combat financial crime and protect customers

National Bank of Oman (NBO) welcomed the National Centre for Financial Information (NCFI) to share the latest concepts in financial security with employees to ensure the safety of all customer transactions. The workshop covered Transaction Monitoring (TM), Suspicious Transation Reporting, Sanctions Screening, Red Flag Indicators and Anti-Money Laundering (AML) legislation, and introduced to Financial Crime Compliance Shadowing Program to share best practices and enhance financial controls throughout all of the bank’s operations.

NBO is one of the first banks in Oman to partner with the NCFI to identify and mitigate the risks of money-laundering and other areas of financial crime. In partnership with the NCFI, NBO has adopted a transaction monitoring system to alert the bank of unusual transaction patterns and account activity based on each customer's profile and assist customers to resolve the issue.

Hassan Abdul Amir Shaban, Chief Government and Alliance Officer at NBO, said, “At NBO, we go beyond banking to make the lives of our customers easier and safer. Partnering with the NCFI allows NBO employees to protect customer accounts by identifying potential fraud, work with customers to understand changes in their circumstances, and work with the authorities if required. Staying current in a rapidly-changing financial landscape is vital to remaining at the forefront of seamless, reliable banking and ensuring NBO customers can trust that we care.”

Together with NCFI, NBO goes further to create value and build relationships and utilise its experience to deliver hands-on support at every step.More details about NBO’s range of products and services are available in-branch, online at www.nbo.om or by contacting the Call Centre on 24770000.