Dhs1 Million Cyber Crime Hits the UAE

Local firms fall prey to global hackers
ByLayla CrockerSunday , 15 September 2013
Dhs1 Million Cyber Crime Hits the UAE

Police have warned UAE companies to be alert following a recent string of cyber-attacks by international hackers. 

Two recent cyber attacks (involving around Dhs1 million) have left businesses extremely wary after the criminals were able to intercept communications of private business deals between local buyers and foreign suppliers to target company funds.

Criminal Investigation Department Director Colonel Dr Rashid Mohammed Bourshid said there have been instances where hackers have posed as suppliers and have contacted local businesses via direct email.

After gaining their confidence, they then begin draining company funds  by asking the firms to transfer the money to their personal bank accounts.

One example of the fraudulent activity involved a restaurant where the owner was cheated out of almost Dhs560,000 after the hackers sent  the owner an email and encouraged him to transfer the amount in two separate installments.

Another incident involved a firm selling construction materials. An international hacking gang sold over Dhs350,000 to East Asia after forging the signature of the company owner to gain power of attorney.

In response to these recent events, Colonel Bourshid urged businesses not to solely rely on email communications, to  change passwords regularly and to use anti-virus software.

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