11.4.1All fraud incidents must immediately be reported to:
a)the police authorities for investigation;
b)the FID via the STR system in the form of a fraud report; and
c)the Banking Supervision Department by using the “Fraud Incident Reporting (FIR) Form” (Refer to Appendix 5 for FIR Form) if the amount of loss is equal to or above AED 100,000.
11.4.2Fraud incidents must be reported to the Board of Directors (or to the Owner/Partners where there is no Board of Directors) immediately when the amount of loss is equal to or above AED 50,000. A summary of other fraud incidents must be sent to the Board of Directors (or to the Owner/Partners where there is no Board of Directors) on a monthly basis, at a minimum.