In a successful operation named “Monopoly,” Dubai Police targeted an international cybercriminal syndicate exploiting major enterprises by infiltrating email correspondences. The Anti-Cybercrime Team traced the gang’s two-phase transfers totaling $36 million, utilizing sophisticated techniques to cover their tracks.
The operation monopoly led to the arrest of 43 suspects, revealing the identity of the gang leader and 20 accomplices. An international arrest warrant, a “red notice,” was issued, dismantling a dangerous hacking and fraud gang and recovering stolen money.
The operation initiated with a complaint from a company in Asia, reporting a hack into the CEO’s email and an instruction to transfer $19 million to a Dubai bank. Dubai Police’s Anti-Cybercrime and Anti-Money Laundering departments traced the money, monitoring the gang and luring them to the UAE. The transferred funds were skillfully rerouted through multiple accounts before reaching cash vaults.
During the investigation, the gang hacked another foreign company, seizing approximately $17 million. Dubai Police captured 43 suspects, seized luxury cars, and recovered expensive artworks, showcasing their adeptness in combating cybercrime.
The gang targeted specific victims, primarily corporate executives, businesspeople, and the wealthy. Despite the gang’s precise victim selection and evasion tactics, Dubai Police’s elite anti-cybercrime teams, equipped with cutting-edge AI technologies, outmatched their strategies.
Dubai Police commended international collaboration with security agencies from France, Hong Kong, and others, emphasizing the success of Operation Monopoly in dismantling a significant cyber threat.