Dubai Police arrests investment fraud gang using bank accounts to launder funds
Dubai Police has dismantled an investment fraud network that recruited individuals to hand over bank account access. Victims face legal action alongside perpetrators.
Investment fraud network dismantled in Dubai, multiple arrests made
Dubai Police have arrested several individuals involved in an organised investment fraud scheme, arnnewscentre.ae reports. The gang lured victims by offering money in exchange for access to their bank accounts and digital wallets.
Investigations found that the network actively recruited participants, convincing them to surrender full control of their accounts so the fraudsters could transfer illegal funds and conceal the identities of the actual beneficiaries.
The Dubai Police General Command stressed that individuals who grant access to their accounts or digital wallets for financial gain will also face prosecution, regardless of whether they were aware of the scheme's full scope.
Authorities called on the public to keep their account details strictly confidential and to report any suspicious activity through the Police Eye service, the eCrime platform, the official website or app, or by calling 901.
Source: Google News UAE — Dubai