Dubai Police bust gang who recruited people to open bank accounts for investment fraud

详细摘要

Dubai Police warned that allowing others to use personal bank accounts or digital wallets in exchange for money could expose account holders to legal liability ...

Dubai Police have arrested members of a gang accused of investment fraud. The group paid people to open bank accounts and digital wallets, which were later used to carry out fraudulent transactions and transfer stolen money.

The operation forms part of Dubai Police’s ongoing efforts to combat financial crime, dismantle organised criminal networks and protect the public from increasingly sophisticated fraud schemes.

Investigations found that gang members approached people who needed money and offered to pay them to open bank accounts and digital wallets.

Once the accounts were opened, the individuals were asked to hand over their login details, giving the gang full access to their accounts.

The criminals then used these accounts to transfer money obtained through fraud, making it harder to identify those behind the transactions.

Dubai Police launched an investigation into the gang, using intelligence gathering to track its activities, identify its methods and locate those involved before arresting its members.

The force said it remains committed to tackling new forms of financial fraud and pursuing organised criminal groups that put financial security and public safety at risk.

Dubai Police warned residents not to let others use bank accounts or digital wallets registered in their names.

They said people who share their login details in exchange for money could face legal consequences, especially if their accounts are used for fraud or money laundering.

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