Dubai– Three Indian men have been accused of hacking into a businessman’s mobile banking application and stealing $272,249 (Dh 1 million), local media reported.

The Indian trio — a 38-year-old worker, a 27-year-old visitor and a 26-year-old mechanic — aided and abetted other suspects at large in applying for a SIM card in the businessman’s name at a telecommunication service provider.

They forged his signature on the application form after pretending the original SIM card was lost, reported Gulf News on Monday, without naming any of the accused.

According to the local media report, they used the replica SIM to hack into the businessman’s bank account through the mobile banking application and transferred large amount of money from his account to another account.

The three suspects were not present at the Dubai Court of first instance on Monday to face charges of forgery, online fraud and embezzlement.

One of the bank staff told prosecutors that the businessman called in and complained that a large amount of money had been embezzled from his account.

“We checked and found that online smart banking had been activated through his mobile number which was registered with the bank. The money was then transferred from his account to another account and later withdrawn in cheques in the defendants’ names,” he said.

A police Lt. said: “Through investigation, we apprehended the first accused (a 38-year-old) who admitted he had a SIM card issued in the victim’s name with the help of a runaway accomplice.”

The second man, 26, was arrested while trying to encash a cheque at the bank’s branch. He confessed during interrogation that the same runaway suspect had given him several bank cards and their pin codes to withdraw cash.

The court will hand down a ruling on December 29.