News DeskDubai, UAE – In a remarkable display of coordinated security efforts, Dubai Police, through its specialized Anti-Cybercrime Team, successfully executed Operation “Monopoly,” targeting a highly sophisticated international cybercriminal syndicate that had been exploiting major enterprises in multiple countries. The operation led to the arrest of 43 suspects, the unmasking of the gang leader and 20 other accomplices, and the issuance of a “red notice” for their international pursuit and arrest. The result: one of the most dangerous international hacking and fraud gangs has been significantly dismantled, and stolen funds amounting to an estimated total of $36 million have been recovered.
Operation Overview:
The operation was initiated when a lawyer representing a company in an Asian country filed a criminal complaint with Dubai Police’s anti-cybercrime platform, e-crime.ae. The complaint detailed how an international gang had hacked the company CEO’s email, gained access to correspondences, impersonated the CEO, and instructed the accounts manager to transfer approximately $19 million to an account in a Dubai bank, claiming it was for the benefit of the company’s branch in the emirate.
Dubai Police’s Anti-Cybercrime and Anti-Money Laundering departments immediately began tracing the money’s trail, while also luring gang members to the UAE without raising their suspicions.
The gang exhibited a high level of sophistication in their evasion tactics, employing multiple transfers through various accounts before finally depositing the funds in cash vaults of specialized money holding and transfer companies.
Notably, while authorities were monitoring this case, the gang struck again, hacking the electronic communications of another foreign company and seizing around $17 million, employing the same sophisticated transfer methods.
Successful Arrests and Seizures:
Dubai Police’s operation resulted in the arrest of 43 suspects, with a diverse range of nationalities, as well as the identification of the gang leader and 20 other accomplices who are currently outside the country. An international “red notice” has been issued against them, significantly disrupting the gang’s activities and recovering the stolen $36 million.
As part of the operation, luxury cars and expensive artworks were seized, further dismantling the syndicate’s operations.
Criminal Scheme and Dubai Police’s Response:
The cybercriminals meticulously selected their victims, focusing on corporate executives, business figures, and high-net-worth individuals. However, their tactics were no match for Dubai Police’s elite anti-cybercrime teams, which were armed with the latest AI-empowered technologies.
International Cooperation:
Dubai Police praised the international collaboration between police and security agencies from friendly countries, including France, Hong Kong, and Singapore, along with liaison officers in several other nations. This cooperative effort proved instrumental in dismantling the gang and underscores the importance of unifying international efforts and enhancing communication networks among law enforcement agencies worldwide to combat transnational organized crime.
Operation “Monopoly” serves as a testament to Dubai Police’s commitment to cybersecurity and global security cooperation in tackling cybercrime and ensuring the safety of businesses and individuals in the digital age.
