Officials Warn People to Be Careful with Online Money Transactions
On Monday, the 18th of September, the Ras Al Khaimah Police received a report from a company that it had encountered a phishing scam worth 281,000 euros (around Dh1.077 million). The Ras Al Khaimah Police arrested three suspected individuals within three hours.
The gang members were arrested in Dubai in cooperation with Dubai Police.
Colonel Tariq Mohammed bin Saif, Director General of Police Operations at Ras Al Khaimah Police, explained that the incident came to light when the victimized company reported the e-phishing incident to the authorities. This company fell victim to an electronic phishing scheme, resulting in a substantial financial loss.
Describing how the cybercrime unfolded, Colonel Tariq said that a hacker assumed a fake identity to initiate contact with the victimized company through email. They gained unauthorized access to the company’s email system through hacking techniques and set up a fake email account that closely resembled the genuine email address of the supplier company. Since the criminals had all the purchase records and banking transactions, the fraudulent account pretended to finalize an agreement related to their ongoing business dealings by mimicking the supplier’s official communication channel and requesting all future bank transfers for sales through the new version.
The company completed the sale process by transferring the money for the purchase but has yet to receive anything in return after several days.
Realizing they were victims of online fraud, the company promptly reported the phishing case to the nearest police station.
The Director-General of Police Operations mentioned that a team from the Department of Investigations and Criminal Investigators was promptly formed after the case was registered.
This team, trained to handle online crimes through research and screening, tracked down the accused and successfully apprehended them in another emirate. The police collaborated with Dubai Police to locate and arrest the criminals, transferring them to specialized authorities to initiate legal proceedings against them.
Authorities urge community members and business owners to exercise caution when initiating transactions and bank transfers with other companies or parties. To protect their rights and assets, people should verify the identity of company representatives through telephone conversations or in-person meetings before proceeding with any financial transactions.
Fraudsters are becoming increasingly sophisticated, often making false claims to mislead individuals or organizations and cause financial harm. Major General Ali Abdullah bin Alwan Al-Nuaimi, Commander-in-Chief of Ras Al-Khaima Police, warned residents and business owners about the rising threat of cyber fraud, including email phishing.