A Dubai resident is currently facing trial for stealing Dh74,500 from a local bank by exploiting a loophole in their credit card payment system. The bank had a feature that allowed users to settle credit card dues via WhatsApp, but the accused African expat discovered a flaw in the system. By adding a negative sign (-) before the entered amount, the money would be transferred to a bank account instead of being deducted from the credit card balance. As a result, he was able to successfully steal Dh74,500 over two consecutive days, even though the card did not have the necessary funds.
The fraudulent transactions were detected by the victim bank’s accounting and IT department, leading to an internal review of the accused’s account. Upon discovering the unauthorized transactions, the bank officials reported the incident to the police at Al Muraqqabat Station. The man was apprehended, and a white iPhone Pro Max 15, believed to have been used in committing the crime, was seized from him. An IT specialist at the bank testified that the flaw in the system was discovered during a routine audit in February.
During the investigation, the accused denied the charges, claiming that his phone had been hacked on the dates of the transactions and that he believed the funds were transferred by someone with whom he had previous financial dealings. In addition to the criminal charges, the bank also filed a civil lawsuit against the man, seeking Dh51,000 in damages. The court referred the civil claim to the competent civil court for further deliberation, pending the final outcome of the criminal case.
To stay up to date with the latest news, follow KT on WhatsApp Channels. The man reportedly transferred the stolen amount to an account in another local bank and withdrew the money on the same day. It is crucial for banks and financial institutions to regularly audit their systems and address any loopholes or vulnerabilities that could be exploited by malicious actors. This case highlights the importance of strong cybersecurity measures to prevent fraudulent activities and protect users’ financial information. The authorities were able to apprehend the suspect and gather evidence to support the criminal charges against him. It remains to be seen how the legal proceedings will unfold and what consequences the accused will face if found guilty of the charges.
