Dubai Police Arrest 43 Hackers Linked to $36 Million AI-Powered Theft

  • Publish date: Friday، 10 November 2023
Dubai Police Arrest 43 Hackers Linked to $36 Million AI-Powered Theft

In a major crackdown, Dubai Police have arrested 43 individuals linked to an international gang accused of using AI-powered deepfake technology to conduct a $36 million theft from two Asian companies. The suspects, of various nationalities, reportedly targeted corporations by hacking into emails between executives and branch managers. Using deepfake, the gang impersonated company directors to manipulate staff into transferring large funds to Dubai-based bank accounts.

Under Operation Monopoly, initiated after a fraud report from an East Asian company, Dubai Police collaborated closely with international counterparts, resulting in arrests and the issuance of red warrants for key suspects.

The investigation unveiled a complex scheme where the criminals intercepted communication between CEOs and branches, leveraging AI to replicate voices and deceive managers into transferring $19 million for a fictitious acquisition deal in Dubai. The cybercrime and money-laundering units tracked the illicit funds, revealing money-shifting techniques employed by the syndicate.

Some of the criminals left the country and utilized specialized money-holding and transfer companies to launder the stolen funds. Notably, the gang's modus operandi extended beyond borders, as a second fraudulent operation targeting a different company yielded an additional $17 million.

Dubai Police not only detained the suspects but also seized luxury cars and valuable artworks. The recovered funds have been returned to the victims.

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