Bloomberg has reported that Abu Dhabi’s Al Hilal Bank PJSC has uncovered internal fraud worth more than 500 million dirhams ($136 million). It is understood that employees allegedly withdrew funds from dormant customer accounts and then transferred the money to bogus accounts before being withdrawn.
In 2017, Abu Dhabi’s Judicial Department stated that 38 people from Asian and European backgrounds had been arrested for the “unlawful confiscation” of 635 million dirhams from a U.A.E. bank but did not identify the bank – it is now believed that the Al Hilal Bank was the bank in question.