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 type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.