CAIRO, Feb 26 (MENA) - Prime Minister Mostafa Madbouli stressed on Wednesday that circulated reports on the latest online fraud case in Egypt are very much exaggerated, especially in terms of the funds stolen from citizens that fell victims to the fraud network.

In statements after a cabinet meeting today at the Cabinet, Madbouli said actual amount involved in the case did not come close to USD 6 bln as circulated by some media outlets, noting that it did not exceed two million pounds.

The fraudsters were immediately arrested, he said, making clear that the application used in the online scam network is an international one, said Madbouli.

He urged Egyptians to be cautious and not be dragged behind such platforms, saying this type of illegal practices lure people at first by giving them some money to promote the platform and then start collecting money from the largest number of citizens.

Madbouli urged citizens not to be deceived by such fraudsters.

Security forces arrested Monday 13 individuals involved in a large-scale online fraud scheme linked to the FBC platform, which deceived over 100 victims out of nearly EGP 2 million.

Investigations revealed that the criminal network was led by three foreign nationals currently residing in Egypt and linked to an international crime syndicate.

They were involved in online fraud and the misappropriation of citizens' funds under the pretence of investing them through an online platform called FBC. (MENA)
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