Dubai Police have successfully dismantled a prominent international gang involved in bank card fraud, which operated through a network of fake companies.
Operation Details
The operation, led by Dubai’s police cybercrime unit, targeted criminals who used fraudulent corporate entities to facilitate large-scale financial crimes. The gang specialized in creating fake companies to obtain legitimate-looking bank cards, which they then used to conduct unauthorized transactions.
Key Aspects of the Fraud
- Use of counterfeit documents to register fake companies.
- Exploitation of banking systems to issue authentic cards linked to these companies.
- Execution of numerous illegal transactions worldwide, draining funds from various continents.
Outcome of the Investigation
Authorities arrested several suspects and confiscated multiple assets connected to the fraudulent activities. The investigation is ongoing to uncover the full scope of the gang’s operations and collaborators.
Significance
This breakthrough highlights Dubai Police’s commitment to combating financial crimes and protecting both local and international banking environments from sophisticated fraud schemes.
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