UAE: Cybercriminal arrested for trying to embezzle Dh2.8 million in phishing scam

The Sharjah Police have arrested a 32-year-old man who tried to embezzle Dh2.8 million after hacking an advertisement company's bank account. The Asian suspect committed the cyber fraud through phishing, the police said.

Lt.-Col. Muhammad bin Haider, acting head of the Buhaira Comprehensive Police Station, said the suspect was arrested within eight hours of the complaint being filed.

The officer said the advertisement company's director registered a complaint with the police on August 17 that its account had been hacked and that the suspect withdrew an amount of Dh1.1 million.

Lt.-Col. Muhammad said the suspect hacked the victim's account and found out about a Dh2.8 million transaction that was to happen from a company in a Gulf country. He then sent a mail, asking the said company to transfer the amount to another bank account. The company did not realise that the account was hacked and approved the transaction.

The suspect withdrew Dh1.1 million through transactions at multiple branches.

He stressed on the importance of following up on bank accounts, verifying banking transactions, and monitoring any suspicious or unfamiliar activities. He also advised that companies introduce additional safety measures to prevent unauthorised transfers.