Bank Muscat compensated for credit card fraud

Omani bank, Bank Muscat, and its emirati counterpart, National Bank of Ras Al Khaimah, were victims of fraud carried out by means of prepaid credit card in February 2013.
The damage amounts to 45 million USD, 38.8 million USD of which payable by Bank Muscat. The latter’s insurers have agreed to compensate the entire loss suffered by the bank.

Some of the authors of these offences were arrested by the American authorities in collaboration with the various states where the criminals lived.

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