38 held for stealing Dh635m from bank
Abu Dhabi authorities recover amount, 6,000 mobile phones; six more gang members on run
Aprompt and coordinated action by Abu Dhabi authorities led to the arrest of 38 members of a gang that siphoned off Dh635 million from a local bank account and recovery of the amount in 24 hours.
Six of the 44-member gang are still at large, Abu Dhabi Judicial Department said in a press release yesterday.
Abu Dhabi Pubic Funds Prosecution, in coordination with the Criminal Investigation Department (CID) of Abu Dhabi Police, cracked one of the biggest cybercrimes reported in the UAE’s banking sector.
The arrested suspects are of Asian and European nationalities.
The gang purchased 6,000 mobile phones for Dh10 million, which were also confiscated by the authorities.
A bank employee who wired Dh635 million to overseas bank accounts of five companies was the kingpin of the network of cybercriminals.
The investigators found the companies that received the money had subsidiaries or branches in the UAE and a network of 44 cybercriminals including the bank employee were involved in the crime.
Abu Dhabi authorities have arrested 38 members of a gang who siphoned off Dh635 million from a local bank account, according to a press release issued by Abu Dhabi Judicial Department yesterday.
Abu Dhabi Public Funds Prosecution, in coordination with the Criminal Investigation Department (CID) of Abu Dhabi Police, succeeded in solving the cybercrime by the 44-member gang, using advanced cyber technology.
The prosecution and the CID, in coordination with the UAE Central Bank, recovered Dh625 million within 24 hours and arrested 38 suspects of Asian and European nationalities before the suspects could flee the UAE.
Police are looking for six other suspects in the gang, who are still at large.
The gang purchased 6,000 mobile phones for Dh10 million, which were also confiscated by the authorities, said the press release.
The investigation started when the affected bank reported to the Central Bank about certain suspicious transactions of large sums of money. The public funds prosecution immediately ordered freezing of the suspicious transactions and investigators found that a bank employee had wired Dh635 million to overseas bank accounts of five companies. The employee who made the transactions did not have the authority to do so but he had stolen the username and password of another employee.
The investigators found that the companies which received the money had subsidiaries or branches in the UAE and it came to light that a network of 44 cyber criminals, including the bank employee, were involved in the crime.
Ali Mohammad Al Beloushi of the General Prosecution of Abu Dhabi said the crime was uncovered thanks to the efficient coordination among various official agencies. He praised the rapid response and action on the part of investigation agencies and official bodies. This has also helped Abu Dhabi achieve the reputation as an important investment destination in the region, he said.
The official said the accused would face charges of misappropriation of bank funds under Federal Penal Code No. 7 of 2016 and Federal Law No. 5 of 2012 on cybercrimes. According to the recent amendments in this law, bank funds are considered public funds in certain circumstances, said the press release.
6,000 mobile phones bought by the gang