The Dubai Misdemeanour Court has convicted eight individuals and three companies for cyber fraud that involved stealing money of AED 14 million from the bank account of another company through hacking.
The Court sentenced one defendant to three years in jail and the other accused were handed sentences ranging from six months to a year.
Two of the defendants were fined AED 20,000 each and the court imposed a fine of AED 300,000 on each of the three convicted companies and ordered them to return more than AED 9 million that was embezzled from the complainant’s company.
Counselor Ismail Ali Madani, senior advocate general, Chief of Public Funds Prosecution, said one of the defendants hacked “into a company’s bank account and fraudulently transferred money into his own company’s account.”
The other convicted persons assisted the first defendant in conducting a series of illegal transactions to transfer and launder the money “as well as conceal the crime and source of funds.”
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Abdul Rahman Nasser Hassan, chief prosecution assistant, said the Public Prosecution’s investigations revealed an elaborate plot to “hack into the email of the victim’s company and access correspondence, confidential bank account details, and mechanisms for transferring funds.”
After depositing the money in their account, the defendants conducted illegal transactions to conceal the source of the funds. (AW)
