x Abu Dhabi, UAESunday 23 July 2017

Bankers investigated over scam

Police are still determining the scope of the scam in which at least three banks granted loans to men using fake documents.

DUBAI // Police are investigating whether some bank employees were privy to a scam in which fraudsters used fake documents to obtain loans totalling at least Dh1.5 million.

Three banks are each thought to have granted loans of Dh500,000 to two men who used fake documents including passports, residency permits and salary certificates. However, police are still determining the scope of the scam, saying the men submitted loan applications to seven banks.

"The documents, such as the salary certificates, provided by the suspects had the authentic verification stamps which suggests that there must be collaborators inside one or even more banks," said Brigadier Khalil Al Mansouri, the head of the Criminal Investigations Department (CID) at Dubai Police.

The scam was discovered after an employee in one of the banks grew suspicious of the men and reported them in January this year. Police said the employee's suspicions were raised by how quickly the two men were able to obtain any required documents.

Police believe one of the men may have defrauded a bank in 2009 before leaving the country. Brig Al Mansouri said the man may have then re-entered the Emirates using a fake identity.

Two Indian men have been arrested, while police said they were investigating a third person.

wissa@thenational.ae