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Etisalat employee embezzles millions
Employee managed to steal $7 million from UAE telecoms operator because of ‘flaws in the salary system.’
May 26, 2010 3:18 by Samuel Potter
An employee of the UAE’s largest telecoms operator, Etisalat, has embezzled $7 million, according to 7 Days. The paper quotes a report from Arabic newspaper Emarat Al-Youm.
The theft was revealed in a report by the state audit institution (SAI), and was made possible by flaws in the company’s salary system. Safe guards were not in place, according to the report, and that lead to serious financial risk.