UAE: Help! 5 unauthorised transactions on credit card in the amount of Dh91,177

UAE: Help! 5 unauthorised transactions on credit card in the amount of Dh91,177

On October 20, 2021, there were five transactions made on my Dubai Islamic Bank Visa credit card, which were not done by me. The contentious transactions were in USD and made one after another, going to two different crypto currency companies all amounting to US$24,827 (Dh91,177) in total. I don’t understand why such a transaction was not picked by the bank system as a red flag? I immediately informed the bank. The call took almost 30 minutes to do all the cancelling processes and in this time they could have informed the receiving company and VISA to stop or detect where this payment was going and to whose account.

Overall the bank processes took quite some time and after several follow ups from my side and during this time I couldn’t put an official police investigation report as they had to wait for the bank’s investigation to be finalised. Furthermore, the bank did not stop the interest rate from accumulating, during this long processes. Eventually, when the entire process was completed the transaction date had passed six months. This did not help the investigation.

During this waiting period I had made several calls and visits to the bank, even while I was