Bank employees cited in Dhs4.5m scam

Hamza M Sengendo, Staff Reporter

DUBAI: A bank’s sales official and his workmate teamed up with fraudsters to misuse the personal data of two investors and siphon Dhs4.48 million, a jury heard on Sunday.

The Asian official, 30, and compatriot workmate, 30, (a subordinate from another section) coordinated with an Asian man, 30, (a briber who represented fraudsters). They targeted accounts of victims who were abroad. The man met the workmate and offered him huge sums of money if he accessed the account data of the bank’s wealthy clients –in this case the data of an Indian investor, 76, and of an Australian investor, 66.

He tasked him with photographing data including signatures and passing the information to two men (both convicts) so they could drain the available money. The workmate talked to the official who welcomed the deal.

The man offered to bribe the official and his workmate with Dhs10, 000 each. The official in breach of his duties logged onto the bank’s e-system and allowed the workmate to review the account data of both investors. The workmate discerned the data and also used his mobile to photograph the signatures. He passed the data and signatures to the man who divulged them to fraudsters (some of them convicts and others fugitives) The gang used replacement SIM cards and forged documents including cash transfer orders attributed to both investors. They siphoned Dhs3, 495, 000 from the Indian’s account and Dhs985, 000 from the Australian’s. They did so by submitting bogus documents to transfer the Indian’s money to accounts of two companies represented by two fugitives and transfer the Australian’s to another account. They withdrew it from those accounts.

The gang’s criminal activities continued until Mar.22.2017 and were reported to Al Rifa’a Police Station. The trio denied charges. Prosecutors demanded the toughest punishment. The Criminal Court adjourned the hearing till April 2.

In prosecution records, the Indian who has a company said he had a SIM card connected with his accounts. He was in his homeland when services to the SIM card got severed. He returned and learnt a replacement one was issued. “I had $871, 486 in the first account and Dhs354, 859 in the second one,” he said. “The defendants converted the dollars to dirhams and deposited them in the second one before making fraudulent transfers,” he said.

The Australian who has an institution said he travelled to his homeland when a replacement SIM was illicitly issued. “I had more than Dhs11 million in my account. Dhs985, 000 was swindled,” he said.