Hacker behind Dh2.8 million fraud caught red-handed by Sharjah Police
Suspect arrested in less than eight hours while withdrawing cash at bank
Sharjah: Sharjah Police have arrested a hacker who defrauded Dh2.8 million from a company account. Officers arrested him within eight hours of receiving the report from the company.
Lieutenant Colonel Mohammad bin Haider, acting head of the Buhaira Comprehensive Police Station, said the station received a report on August 17 at 3am from a representative of an advertising company in the emirate, stating that the company’s account had been hacked, and the accused had withdrawn a sum of money amounting Dh1.1 million.
Account hacked
Lt Col bin Haider added that the suspect had hacked the company’s electronic account and spied on its commercial transactions. He hatched a criminal plan based on an incoming sum of Dh2.8 million from a company in a Gulf country. He sent that company an “official” e-mail asking them to transfer the amount to another bank account under the false pretence that the receiving company’s account had changed.
The company in the Gulf company then transferred the amount to the “new” account. Soon afterwards, the suspect withdrew Dh1.1 million out of the total sum before being arrest.
Lt Col bin Haider said police investigations showed that the suspect withdrew the cash through seven withdrawals from separate branches of the bank inside and outside Sharjah.
Accordingly, a team was formed from Buhaira police station’s investigations and criminal department to track down the suspect and arrest him before he could withdraw the rest of the money.
Caught in the act
Police investigations showed that the suspect was at a bank in one of the emirates to withdraw the rest of the amount. Accordingly, he was monitored and caught red-handed, and his entire scheme was thwarted. He was then referred to the Public Prosecution to complete the legal procedures.
Lt Col bin Haider called on the owners of companies and private institutions that adopt an electronic system in their transactions to ensure that those systems comply with the approved information security standards and specifications to avoid falling into the trap of hacking. He also pointed out the importance of following up on bank accounts, verifying the origin of banking transactions, and monitoring any suspicious or unfamiliar movement in the account.