Critical Role For Qatar Chamber In Protecting Private Sector From Financial Fraud

DOHA: The Qatar Chamber (QC) participated in a panel discussion organised by the Federation of GCC Chambers on“The Role of legal Departments in Federations and Chambers of Commerce in Protecting the Interests of the Private Sector from financial Fraud Cases in GCC Countries.” This event was part of the First Gulf Week for Law and Arbitration, held in Bahrain and organized by the GCC Commercial Arbitration Center. Abdul Aziz Al Kuwari, Director of the Legal Affairs Department, represented the Chamber in the panel discussion.

The panel discussion, featuring several legal directors and experts from chambers of commerce across the GCC, aimed to raise legal awareness within the private sector regarding financial and cyber fraud issues and ways to combat them. In his presentation during the session, Abdulaziz Al Kuwari emphasised the critical role that Qatar Chamber plays in protecting the interests of the private sector from electronic financial fraud. This is achieved by providing information on best security practices and offering advice on how to safeguard against cyber fraud.

Al Kuwari stressed the importance of private sector cooperation with the Chamber to enhance protection against electronic financial fraud. He noted that companies should implement self-protection measures such as using strong passwords, updating software regularly, and utilising antivirus programs. Furthermore, legislation and regulations should be strengthened to bolster the private sector's protection against electronic financial fraud, along with enhancing international cooperation to combat such fraud.

He concluded that protecting the interests of the private sector from electronic financial fraud requires joint efforts from all relevant parties. Collaborative work is essential to enhance cybersecurity and achieve economic stability across GCC countries.

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