DUBAI May 12 Bank Muscat, Oman's
largest lender, is looking at options to recover the $39 million
it lost in a pre-paid card fraud, it said on Sunday, after U.S.
authorities brought to light a $45 million global cyber heist
Bank Muscat, had reported in February that its pre-paid
travel cards were hit by fraud, forcing it to take a 15 million
rial ($39.0 million) loss provision.
"Bank Muscat is aware from press reports that a number of
arrests in different jurisdictions have taken place in relation
to the prepaid debit card fraud incident which we disclosed on
Feb. 25 and 26," it said in a brief statement to the stock
"We reiterate that we are exploring all avenues of recovery
so as to protect shareholder interests and will advise the
markets accordingly if there are any material developments in
U.S. prosecutors said on Thursday that hackers broke into
two card processing companies, raising the balances and
withdrawal limits on accounts that were then exploited in
coordinated ATM withdrawals around the world.