Police in Dubai have arrested 43 people believed to be involved in an international syndicate that used AI-powered deepfake technology to steal $36 million (Dh131.4 million) from two Asian companies.
The gang allegedly targeted major corporations by hacking emails between company directors and branch managers and convinced staff to carry out large fund transfers to their bank accounts based in Dubai.
Police said the 43 suspects are of various nationalities.
A statement from the force on Thursday said: “Dubai Police have identified the ringleader who currently resides outside the UAE, along with 20 additional suspects, for whom red [arrest] warrants have been issued."
The operation and subsequent arrests were executed through close collaboration with international counterparts, including in France, Hong Kong and Singapore.
Under Operation Monopoly, Dubai Police launched an investigation after a lawyer representing an East Asian company reported to the force's e-crime platform it had been victim of a multimillion-dollar fraud.
Police said the inquiry revealed the gang had managed to hack into the company's email accounts to intercept communication between the chief executive and the company's branches.
Using AI-powered deepfake technology, police said the gang impersonated the company directors and replicated their voices to instruct branch managers to transfer $19 million to a Dubai-based account for a confidential acquisition deal in the emirate.
The alleged scam was further supported by official emails sent by the suspected fraudsters to the branches.
Dubai Police's cybercrime and money-laundering units quickly tracked the transfer, tracing it to a person who had opened the bank account in 2018 and subsequently left the UAE.
“Employing a sophisticated money-shifting technique, the criminals moved the stolen funds between multiple accounts before withdrawing and funnelling them into specialised money-holding and transfer companies," the force said.
"While some of the suspects left the country, others remained behind to continue their withdrawal and redeposit activities."
During the course of monitoring the gang's members, investigators uncovered a second fraudulent operation targeting a different company outside the UAE, where the syndicate stole $17 million using the same deceptive methods.
“Such criminal behaviour is often employed by money-laundering gangs to obfuscate the source of funds,” the force said.
Dubai Police arrested the suspects and seized luxury cars and expensive artworks.
"The gang meticulously studied their victims, closely monitoring their cyber activities and consistently targeting company heads and influential businessmen," Dubai Police said.
Dubai Police said they managed to recover the funds, which have now been returned.
Results
5pm: Reem Island – Conditions (PA) Dh80,000 (Turf) 1,600m; Winner: Farasah, Antonio Fresu (jockey), Musabah Al Muhairi
5.30pm: Sir Baniyas Island – Maiden (PA) Dh80,000 (T) 1,400m; Winner: SSR Ghazwan, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: Astral Del Sol, Sean Kirrane, Ibrahim Al Hadhrami
6.30pm: Al Maryah Island – Maiden (PA) Dh80,000 (T) 2,200m; Winner: Toumadher, Dane O’Neill, Jaber Bittar
7pm: Yas Island – Handicap (PA) Dh80,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
7.30pm: Saadiyat Island – Handicap (TB) Dh80,000 (T) 2,400m; Winner: Celestial Spheres, Gary Sanchez, Ismail Mohammed
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
