UAE bank ordered to pay over AED 4.5 million to fraud victim

iStock

A UAE-based bank has been ordered to compensate a customer who lost more than AED 4.5 million in savings following a SIM card swap scam.

His account was emptied by fraudsters who managed to get a replacement phone SIM and changed the PIN connected to his banking services.

The Dubai Commercial Court found the bank responsible for the client's losses as his personal details had been leaked.

The verdict has been appealed by the bank.

More from Local

Coming Up on Dubai Eye

  • Extra Time

    7:00pm - 10:00pm

    Chris & Robbie bring you the latest from the sporting world plus interviews with upcoming and legendary sporting stars.

  • Nights on Dubai Eye 103.8

    10:00pm - 11:00pm

    Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.