UAE: Phone scam gang to stand trial for money laundering; faces up to Dh10 million fine

A gang of nine has been referred to court on charges of money laundering.

According to the UAE Public Prosecution, the gang used funds from theft and fraud operations to carry out the crime.

“Following thorough investigations conducted by the Sharjah Public Prosecution, it was found that a gang of nine suspects are targeting workers. They used to issue SIM cards under workers' names, open bank accounts and obtain ATM cards under their names,” the prosecution said.

The gang managed these accounts through online banking apps.

Gang members pretended to be bank employees and called workers on the pretext of updating their banking data or offering a prize money.

“They obtained the necessary information to access the victims' accounts and transferred money to other bank accounts they had opened for this purpose. They then withdrew cash and deposited it in other accounts belonging to them to send it outside the country.

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“Investigations also revealed that they had forged some bank seals as well,” the prosecution added.

The prosecution said it will ask the competent court to apply the maximum penalty against the accused. The Federal-Decree No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism stipulates a temporary imprisonment and a fine of between Dh300,000 and Dh10 million for those found guilty of money laundering.

• Dubai
• Sharjah