Fraud Analyst

About Role

Pay10 UAE fast-growing, CBUAE-licensed payment company operating across stored value facilities (SVF), retail payment services and card schemes (RPSCS), and exchange house activities. As we scale our digital wallet, remittance, BNPL, and card products, we are seeking a sharp and analytically driven Fraud Analyst to join our Risk & Compliance function.

In this role you will be the frontline defence against fraud, working cross-functionally with Product, Technology, Operations, and Compliance to detect, investigate, and mitigate fraud across all our payment channels. You will help build and refine a fraud framework that is both commercially sensitive and aligned to CBUAE regulatory expectations.

Key Responsibilities

Fraud Detection & Monitoring

• Monitor real-time and batch transaction data across SVF, remittance, and card channels to identify suspicious patterns and anomalies.
• Operate and continuously tune fraud detection rules, models, and thresholds within the company’s transaction monitoring system.
• Investigate alerts generated by automated systems, escalating confirmed fraud cases in accordance with internal procedures and CBUAE reporting obligations.
• Conduct first-line review of APP (Authorised Push Payment) fraud, account takeover, identity fraud, and structuring activity.

Investigation & Case Management

• Manage end-to-end fraud investigations, from initial alert triage through to case closure, maintaining detailed case records.
• Gather and preserve evidence for internal escalation, regulatory reporting, and potential law enforcement referrals.
• Liaise with correspondent banks, scheme partners (Visa/Mastercard), and exchange counterparties in the course of investigations.
• Prepare clear, factual investigation reports for senior management and the Compliance function.

AML/CFT Interface

• Identify and escalate potential money laundering red flags arising from fraud investigations to the MLRO in accordance with UAE AML/CFT legislation and FATF standards.
• Support SAR (Suspicious Activity Report) preparation where fraud and financial crime indicators overlap.
• Maintain awareness of CBUAE guidance on AML/CFT for PSPs, including the Standards for Licensed Financial Institutions on AML/CFT.

Policy, Controls & Governance

• Contribute to the development and periodic review of the Fraud Risk Policy, fraud control standards, and fraud response playbooks.
• Maintain the fraud risk register, tracking control gaps and remediation actions.
• Support the Risk team in fraud risk assessments for new products, channels, and markets prior to launch.
• Provide input into the company’s Risk & Control Self-Assessment (RCSA) as it relates to fraud risk.

Reporting & Analytics

• Produce regular fraud management information (MI) including loss data, fraud rates by product/channel, detection rates, and false positive ratios.
• Analyse fraud trends to identify emerging typologies, feeding insights back into rule tuning and policy updates.
• Prepare material for Risk Committee and Board reporting on fraud performance and exposure.

Stakeholder Engagement & Training

• Work closely with the Product and Technology teams to embed fraud controls into new features and product releases.
• Support the delivery of fraud awareness training for customer-facing and operations staff.
• Engage with external bodies including scheme networks, industry groups, and regulators as required.

Qualifications & Experience

Essential

• 3–5 years of fraud investigation or fraud analytics experience within a payment company, fintech, bank, or financial institution.
• Hands-on experience with transaction monitoring systems and fraud detection tooling (e.g. FICO Falcon, Actimize, ThreatMetrix, or equivalent).
• Solid understanding of payment fraud typologies relevant to the UAE market: APP fraud, card fraud, account takeover, identity fraud, money mule activity.
• Working knowledge of AML/CFT obligations for UAE-licensed PSPs and the intersection between fraud and financial crime.
• Strong analytical skills with the ability to interrogate large datasets using SQL, Excel, or BI tools.
• Ability to write clear, structured investigation reports and management information.
• Familiarity with CBUAE regulatory framework including the Retail Payment Services and Card Schemes (RPSCS) Regulation and SVF Regulation.

Preferred

• Experience operating within a CBUAE-licensed entity holding SVF, RPSCS, or Exchange House licences.
• Exposure to remittance fraud and the specific risks associated with international money transfers and correspondent banking.
• Knowledge of FATF Recommendations and UAE Federal AML/CFT legislation (Cabinet Decision No. 10 of 2019 and associated regulations).
• Professional certification such as CFE (Certified Fraud Examiner), CAMS, or ICA Fraud qualification.
• Experience with Python or data visualisation tools (Power BI, Tableau) for fraud analytics.
• Prior involvement in new product risk assessments or fraud gate reviews.

Eligibility

If you have a strong fraud investigation background and a genuine interest in the UAE payments landscape, we would love to hear from you. Please apply via LinkedIn with your CV and a brief note on your most relevant fraud experience.