Photo has been used for illustrative purposes.
Sohaila Ahmed, Staff reporter
A local bank has been accused of swap fraud of SIM card that lead to a customer’s nearly loss of Dh5m of his life savings. Such judgment is the first of its kind in the UAE.
The case dates back to 2017 when the man’s money was stolen from his account which the bank had then closed without his knowledge, Dubai Commercial Court was told.
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Ghassan El Daye, Partner and head of litigation Middle East with the UK-based law firm Charles Russell Speechlys, said “Our client, used to work in UAE but moved out of the country leaving behind Dh4.6m in a personal savings account he opened in 2015.”
The man visited the UAE in May 2017 and used his ATM to withdraw cash, but found his account empty.
The Department of Municipalities and Transport, represented by the Integrated Transport Centre (ITC) Abu Dhabi, said individuals who will use the Abu Dhabi Traffic Toll Gate can recover the balance of the electronic payment account in two cases only: selling the existing vehicle or buying a new one in accordance with the ITC procedures.
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The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
The Arab League said it would convene an urgent meeting on Saturday in response to Trump’s Israeli-Palestinian peace plan.
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