A 30-member gang and seven companies have been convicted by the Dubai Courts for money laundering and embezzling Dhs 32 million, through an online scam targeting individuals and companies.
The gang has been sentenced to 96 years of imprisonment collectively, and after serving their sentence, will be deported. A fine of Dhs 32 million will also have to be paid.
All the phones and computers used have been confiscated, with the seven companies that assisted in the crime, paying a combined fine of Dhs 700,000.
The money stolen was through 118,000 phishing emails sent to individuals, falsely impersonating banks and financial institutions, where they have accounts. The phishing emails requested money to be sent, which was later cashed out or transferred into other accounts. Cars were also purchased to conceal the stolen funds.