Bank Muscat, Oman's top lender, said the bank will recover the $39 million it lost in a global pre-paid card fraud after insurers agreed to indemnify the loss.
In a globally co-ordinated campaign, hackers broke into two uniden
Two former Bahrain bank employees who stole BD1.6 million ($4.24 million) by creating duplicate credit cards using fake names have each been jailed for 10 years.
The Bahrainis were convicted of fraud at the High Criminal Court.
The number of active computers across the GCC falling prey to cybercrimes, including viruses, online credit card fraud and identity theft, has seen a rise of 116 per cent in less than a year, said a report.
Figures also showed that in the