MUSCAT: Bank Muscat, the leading financial services provider in the Sultanate of Oman, organized a workshop titled “Together against Electronic Fraud” at its head office in Airport Heights. The event brought together representatives from various security, regulatory, and financial institutions, in the Sultanate. This initiative comes as part of the Bank’s ongoing efforts to strengthen cybersecurity, raise community awareness about the risks of electronic fraud, and enhance cooperation to combat such threats.

 It also aimed to foster the exchange of expertise and experiences in combating electronic fraud and to develop robust digital protection systems at both the institutional and national levels. These efforts align with Bank Muscat’s strategy to promote a culture of secure and responsible use of modern banking technologies, emphasizing the importance of collaboration among banking, regulatory, and security entities. The Bank also seeks to enhance internal protection systems within financial institutions by adopting the latest technological solutions and building human capabilities capable of efficiently detecting and responding to potential threats.

During the event, Bank Muscat’s specialized team presented a series of interactive presentations to deepen participants’ understanding of current security challenges and to highlight the interconnections between technology, law, and the digital economy. The team covered a variety of key topics, including global trends in combating cybercrime, which reviewed the latest international practices and technologies used to counter financial fraud and enhance information security. They also introduced examples of fraud and phishing scams in Oman, which presented real-life cases and common fraudulent techniques to distinguish between legitimate and suspicious transactions.

Moreover, the team discussed fraud from a legal perspective, which focused on Oman’s legislative and regulatory framework for cybercrimes and the associated penalties. Through these presentations, the Bank underscored the importance of legal compliance and regulatory oversight in safeguarding individuals and institutions alike.

Further to that, the workshop included a panel discussion about “How Can We Build a Safer Future for Electronic Transactions?”. The discussion featured representatives from the Central Bank of Oman and the Oman Public Prosecution, among others. Participants discussed key topics related to combating electronic fraud, such as enhancing

public–private sector integration, developing national digital infrastructure, and sharing international experiences in addressing cyber threats.

The organization of this event reflects Bank Muscat’s continuous commitment to promoting digital awareness through educational programmes and workshops aimed at protecting customers from online risks and reinforcing the concept of digital security as a shared responsibility among all institutions.

In today’s rapidly evolving technological landscape, modern innovations have transformed how organizations manage their operations, introducing new types of cyber and financial threats that affect both individuals and institutions, despite the many opportunities these advancements bring for growth and innovation. Awareness and early understanding of fraudulent methods represent the first line of defense against such risks. Addressing cybersecurity and electronic fraud challenges is therefore a

collective responsibility shared among banks, regulators, technology providers, and individuals, who must play an active role in educating themselves and adopting safe digital practices. The Bank also continues to strengthen its collaboration with various organizations and authorities including the Royal Oman Police, to combat financial electronic fraud by

raising public awareness and providing essential information to help individuals recognize and avoid different types of scams. Notably, Bank Muscat recently enhanced its cooperation with the Royal Oman Police through a joint awareness campaign on electronic and financial fraud. As part of this initiative, several educational videos were produced and shared across various media outlets and social media platforms, delivering key messages that warn the public against new types of scams spread through suspicious websites, links, and online transactions. Bank Muscat reaffirms its commitment to supporting Oman’s vision for secure and sustainable digital transformation and contributing to the development of a knowledge-based economy founded on trust and safety in all electronic transactions.