Syria calls on Vienna for wider international cooperation to combat financial fraud

The Governor of the Central Bank of Syria, Dr.  Abdel Qader Al-Hosriya said that the increasing challenges related to financial fraud call for strengthening international cooperation and intensifying joint efforts to protect financial systems from growing risks, and this came during his representation of Syria at the World Summit against Financial Fraud held in Vienna.

Fraud crimes have evolved into organized networks that exploit technology to hide the identities of their perpetrators and disguise the trajectories of illicit funds, he said, noting that the proceeds of fraud are one of the most prominent sources of funds that are later used in money laundering and terrorist financing.

The close link between these crimes makes combating them a priority to protect national and economic security, he said, stressing the importance of international partnership in confronting cross-border threats.

Syria is participating in the summit, which is being held at the Vienna International Centre, with the participation of policymakers and financial experts from around the world, to discuss ways to strengthen regulatory frameworks and support the integrity of the global financial system.