Brigadier Khalifa Balhai, Director of the Criminal Investigations and Research Directorate, confirmed that one of the victims, an Arab national, reported that he had been subjected to a scam.
The investigation team-initiated procedures and identified the beneficiary of the wired money. After arresting and confronting him, the beneficiary admitted that members of the network had lured him into opening a bank account in his name in exchange for a commission or a travel ticket.
The Brigadier added that the investigations resulted in busting the accused, and the evidence showed an organized role played by the network’s members, which consisted of making false promises that included attracting workers, providing them with housing, opening bank accounts in their names, and exploiting those accounts to transfer the money obtained from fraud operations, in exchange for sums of money and…
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This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.