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The Global Trade Finance Expo 2025 is scheduled to take place in November, discussing topics such as blockchain, artificial intelligence and ESG.
It is being sponsored by UMCA Technologies, a company specialising in AI fraud prevention solutions, which enables the blocking of bank accounts in real time based on user behaviour and geolocation.
UCMA’s AI-based platform has the potential to be the foundation of a social credit system linked to bank accounts. And it is UCMA’s interests that are the opening keynotes for the Global Trade Finance Expo.
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The Global Trade Finance Expo 2025 is scheduled to take place in November. Key topics to be discussed include blockchain, artificial intelligence (“AI”), environmental, social and governance (“ESG”) criteria, supply chain resilience, cybersecurity and digital payments.
Most of the terms mentioned above have become familiar so they need no further comment. However, blockchain may be less familiar. Blockchain technology has a wide range of applications beyond its initial use in cryptocurrencies such as Bitcoin. It is used to create immutable records of transactions, which can include financial data, product inventories, state identifications, deeds to homes and more.
So, when an agenda notes that blockchain will be discussed at an event such as the Global Trade Finance Expo, it is not until the event takes place that we will know its intended purpose. It is worth noting, however, that blockchain technology is also used for central bank digital currencies (“CBDCs”) and digital identities.
The Global Trade Finance Expo aims to bring together senior decision-makers from banks, traders, exporters, corporates, underwriters, Export Credit Agencies and Development Finance Institutions to foster collaboration and knowledge exchange.
It “offers the perfect opportunity to engage with senior decision-makers in global trade and investment,” according to Biometric Update.
“The Global Trade Finance Expo Dubai 2025 is more than a conference,” the event’s website states, “it is where global trade leaders meet to share insights, forge partnerships, and explore the future of international finance. With sessions covering trade compliance, cross-border payments, and innovative financing models, it is positioned among the most influential financial services events in the region [i.e. the Middle East].”
The event is being sponsored by UMCA Technologies, a company specialising in AI-based fraud prevention solutions for financial institutions. UMCA offers a real-time fraud detection and prevention engine that identifies and stops fraudulent transactions across multiple channels, including payments, credit cards, debit cards and ATMs.
UMCA’s platform leverages behavioural analytics and machine learning to detect anomalies and unusual patterns in customer behaviour and transactions. This is how Cybersecurity Intelligence, a news outlet targeting decision-makers and specialists across the corporate and institutional sectors, describe UMCA’s services:
UMCA Technologies provide an AI-based solution that helps financial institutions reduce and block fraudulent financial transactions and prevent account takeovers in real time.
Fraud Detection and Prevention Engine – Offers real-time fraud detection capabilities to identify and stop fraudulent transactions across multiple channels, including payments, credit cards, debit cards, ATMs, and more.
It sounds like a wonderful tool to protect your money – until you realise that artificial intelligence (“AI”) is not intelligent; it is a computer programme that makes mistakes and also has the mistakes and biases of its programmers embedded into it. UCMA admits to these mistakes.
On UMCA’s website, it boasts a 78% reduction in “false positive alerts.” “78%” isn’t very informative. What does “78%” mean? Does it mean 78% of 100 million “false positive alerts”? Are there now only 22 million “false positive alerts” made per day, per month, per year? Mistakes are okay if it means you put sugar in your tea when you don’t drink tea with sugar. But it’s not okay if you’re trying to pay for your weekly shop and your bank account is blocked because of an AI mistake, which UMCA calls a “false positive alert.”
More importantly, UCMA’s fraud detection services depend on what constitutes a “fraud” according to the programmer or whoever is controlling the AI programme’s input. If the controllers of the AI programme decide that drawing more than £10 in cash is a fraud, then people will be subject to a “positive alert” and blocked from, perhaps, using that bank account, or all bank accounts, if they attempt to draw out cash of £20. If you think this isn’t a real risk, then have a read of what UCM says (emphasis added):
Aurora has Three Layers of Fraud Prevention:
Comprehensive Rule Engine: Allowing back office staff to manage complex rules for transaction limits, block merchants, merchant categories, etc. Instant rule rollout with the built-in Simulator.
Algorithms: Geolocation checks, card pin/tap monitoring, sequence of events analyses, etc. Algorithms are also designed to detect specific types of fraud, such as check fraud, account takeover fraud, insider fraud, wire transfer fraud, and more.
AI-Powered Fraud Detection: AI-Powered Fraud Detection for transaction fraud involves deploying advanced artificial intelligence and machine learning techniques to monitor and analyse financial transactions in real time.
Core Features:
Fraud Detection and Prevention Engine: Offers real-time fraud detection capabilities to identify and stop fraudulent transactions across multiple channels, including payments, credit cards, debit cards, ATMs, and more.
Transaction Monitoring: Continuously monitors transactions in real-time, applying advanced analytics and rules to detect suspicious activities as they occur.
Geospatial Analysis: Analyses geographic data to detect location-based fraud patterns, such as transactions from high-risk areas.
Behavioural Analytics: Leverages advanced analytics and machine learning to detect anomalies and unusual patterns in customer behaviour and transactions.
Dashboards and Reporting: Provides tools to assess and score the risk associated with customers, transactions, and entities.
Model Management: Predictive models assign risk scores to transactions and customers. These scores help prioritise alerts and focus investigative efforts on the most suspicious cases.
FAQ
How does the product detect and prevent fraud?
The product uses advanced machine learning algorithms, behavioural analytics, and real-time monitoring to detect anomalies in transactions. It leverages data such as transaction patterns, geolocation, device fingerprints, and user behaviour to identify suspicious activities.
What types of transactions can your product process?
The UMCA platform is omnichannel and supports a wide range of financial transactions. This includes international money transfers, debit and credit card payments, internal transfers between accounts, and more. Its versatile infrastructure is designed to handle the vast majority of common financial operations, making it a comprehensive solution for various payment and transfer needs.
What happens if fraud is detected?
If fraud is detected, the system immediately triggers a series of actions to prevent further loss. The fraudulent transaction is flagged and, depending on the severity and configuration, it may be blocked in real-time.
Call us conspiracy theorists if you choose, but UCMA’s platform appears to be ready to be used as a social credit system linked to our bank accounts. It is this company, providing this service, that is sponsoring the Global Trade Finance Expo Dubai 2025.
So, what is on the agenda? Unsurprisingly, “blockchain, artificial intelligence and machine learning” are first on the list:
For our own sakes, we might want to take note of what they are discussing at the Global Trade Finance Expo 2025.
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Categories: Breaking News, World News
The thing is very simple and EVERYTHING can be finished and brought to an end in one day.
But the only(!), the only solution for EVERYTHING that the criminal satanic scum is preparing for us is:
Shutting down and destroying the 5G network.
With 5G, the satanic criminal scum can do EVERYTHING, and without 5G, they can do NOTHING!!!
Stupid ‘AI’ blocks you if car breaks down, plumbing floods, or any of life’s other multiple varieties of, thankfully rare, mishaps crop up. Rare visit to relative, or holiday, brainless ‘AI’ strands you miles from home.
Blocked if do anything, or anything that does not fit programmers’ prejudiced stereotype of age, gender, ethnicity etc. Control-freak ‘AI’ is first assumption guilty that the dishonest habitually make.
With facial recognition access any digital image, body-cam, dash-cam, ring door bell, phone, domestic CCTV, private and public sector CCTV cameras, linked to financial, employment, health, DVLA, utility supplier, etc data.
All they need, except data centres, is there. However, old devices cannot connect to their systems.