H.E. Dr. Khaled Al-Dhaher, Vice Governor for Supervision and Technology at the Saudi Central Bank (SAMA), honored the graduates of the Cyber Fraud Prevention Program in Riyadh. The event took place in the presence of several SAMA officials and the initiative's success partners from local banks. The program is in line with SAMA's initiative to contribute to promoting national talent in the field. This effort aims to create a knowledgeable and resilient societal environment to enhance the robustness of financial transactions in the digital space.

Dr. Al-Dhaher reaffirmed SAMA's steadfast commitment to dealing with these issues during the closing ceremony of the Cyber Fraud Prevention Program held at SAMA's Headquarters in Riyadh.

Dr. Al-Dhaher expressed gratitude to the Kingdom's leadership and the Governor of SAMA for their foresight and continuous support in developing national talent and competencies across various fields. He also acknowledged the support from the domestic banks in enhancing the security and resilience of the financial sector against cyber risks and fraud. He congratulated the graduates of the program, wishing them success in their future endeavors to achieve national aspirations in strengthening and supporting the field of cyber fraud prevention.

Dr. Al-Dhaher noted that SAMA places great emphasis on keeping pace with the significant digital transformation taking place in both the general and financial sectors for preserving system stability. He highlighted that SAMA has worked extensively on developing the basic infrastructure of the FinTech and Payment Systems sector, and on supporting and empowering start-up companies. Dr. Al-Dhaher stated “Technological advancements undoubtedly pose new challenges, and this warrants combating cyber fraud in all its various forms and diverse methods a top priority."​

The initiative sought to engage participants in a rigorous and specialized three-month program dedicated to the prevention of cyber fraud. Encompassing trainees from both the central bank and local banks, the program provided exposure to international practices and real-world scenarios in fraud management, besides acquainting participants with various fraud detection methods by offering hands-on practical engagement with global banks and financial institutions.