33.8 C
Dubai
Saturday, November 2, 2024
spot_img

“Dubai Police Dismantle $36-Million Scam, Apprehend 43 Suspects, and Disrupt Global Cybercriminal Network”

Cybercriminal Network Operation Monopoly Exposes Intricate Web

Dubai Police have successfully dismantled an international cybercriminal network involved in duping businesses across various countries. Operating under the codename ‘Monopoly,’ the operation resulted in the arrest of 43 suspects, with the identification of the gang leader and 20 accomplices located outside the UAE. An international arrest warrant has been issued for the identified individuals.

Targeting Businesses Through Email Intrusion

The cybercriminals targeted businesses by hacking into the emails of company CEOs. They then sent fraudulent emails to branch managers, deceiving them into transferring substantial sums of money.

Two-Phase Operation Unravels $36-Million Scheme: Cybercriminal Network

The operation, spanning two phases, unveiled the movement of an estimated $36 million. The suspects attempted to conceal their activities by transferring funds across multiple accounts before eventually depositing the money into the cash vaults of money holding and transport companies.

Initiation Triggered by Legal Complaint

Operation Monopoly was initiated in response to a complaint filed by a lawyer representing a company in an Asian country. The lawyer reported that the cybercriminals had compromised the email account of the company’s CEO, posing as the executive and instructing the accounts manager to transfer approximately $19 million to a bank account in Dubai.

International Collaboration and Arrests: Cybercriminal Network

Dubai Police collaborated with security agencies in France, Hong Kong, and Singapore to execute the comprehensive operation against the cybercriminal syndicate. The police meticulously traced the money trail, enticing the suspects to the UAE and subsequently arresting them. Luxury cars and valuable artworks were seized during the operation.

Sophisticated Targeting of Executives and Affluent Individuals

The cybercriminals, adept at identifying potential victims through thorough electronic surveillance, primarily targeted corporate executives, business professionals, and affluent individuals.

Also Read

MapIT.ai: Pioneering IoT and AI Solutions to Reshape Industries

Abu Dhabi Unveils Digital Platform to Transform Climate Intentions into Action

Related Articles

From Vision to Reality How Harshit Aggarwal’s Novamax Industries is Redefining Cooling Solutions

In the fast-evolving world of startups, where passion meets perseverance, Harshit Aggarwal has carved out an impressive path with Novamax Industries LLP. Founded in...

8 Tips for Choosing the Right Pet Insurance in Dubai

As a pet owner in Dubai, you want to be sure that your companion receives the best care possible. But we understand that vet...

Dubai Tourism Boom: Record Visitor Arrivals Drive Unprecedented Growth

Dubai tourism industry is experiencing an unprecedented boom, setting new records for visitor arrivals in 2024. The city, renowned for its luxurious offerings and vibrant...

Dubai: Gold prices jump to new record high ahead of Diwali; 22K crosses Dh311 per gram

Dubai have surged to new record levels ahead of Diwali, with 22-karat (22K) gold crossing the Dh311 per gram mark. This increase reflects both global...

The Journey of Berrylush: A Story of Passion, Perseverance, and Purpose

In 2018, Berrylush was born from the shared vision of two IIM graduates, AnushaChandrashekar and Alok Paul, who saw a glaring gap in the...

Latest Articles