22.5 C
Thursday, November 30, 2023

“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

Popular Route Gets a Boost: Leading Airline to Operate A380 Double-Decker on UAE Flights

 A380 Double-Decker Etihad Airways, the UAE's national carrier, has announced its decision to deploy the A380 double-decker aircraft on the New York JFK route,...

“Union Day Memories: Witnessing Two Historic Moments – Greetings to Sheikh Zayed, Farewell to British Forces”

Union Day When Len Chapman, a British expat, touched down in Dubai in March 1971, his journey began as an engineer at the newly...

“Transformative Journey: From Navigating Waters to Establishing a Business Empire in Dubai”

Navigating  In an unexpected turn of events, Dr. Azad Moopen, the entrepreneur behind the $2 billion-valued Aster DM Healthcare, reflects on his unique journey...

Hatim AL Abri: On Predicting Efficient Products Distribution At the Customer Level

Hatim AL Abri, an adept professional and the Co-Founder of ZabonEx, brings incredible expertise to the table. With a commitment to contribute towards digital...

“Abu Dhabi Unveils New Rail Services to Enhance Transportation Network”

Rail Services  In a recent announcement, Etihad Rail and Abu Dhabi National Oil Company (Adnoc) have revealed plans to establish railway services connecting Abu...

Latest Articles