As financial institutions face growing threats from increasingly sophisticated scams and social engineering tactics, the need to strengthen fraud prevention mechanisms has never been more critical. These attacks often exploit human behavior to gain unauthorized access to sensitive financial data, leading to substantial losses for both organizations and their customers. In line with this, regulations set forth by the Saudi Central Bank require financial institutions to implement comprehensive fraud prevention frameworks. These frameworks not only focus on immediate detection but also emphasize long-term strategies, such as integrating fraud detection systems with financial crime teams and using AI and advanced monitoring tools.  

Regulations require regular assessment of fraud detection programs, with quick investigation turnaround times to minimize losses and prevent further fraudulent activities. Amidst all this, how are practitioners managing to meet regulatory requirements and future-proof their organisations?