UAE Central Bank cautions consumers on fraudulent activities

The Central Bank of the UAE (CBUAE) issued a statement on Monday warning individuals of fraudulent activity.

In the statement, the Central Bank said, "Fraudsters always look for opportunities to target consumers, and as the public is engaged with coronavirus pandemic news; fraudsters are using different tactics to increase fraudulent activities on banking customers."

CBUAE cautioned consumers saying that it would never ask consumers about private information — such as personal and bank account information. It warned consumers to be alert and aware of malicious phone calls and WhatsApp messages claiming to be from CBUAE. It added that such calls and messages are of a fraudulent nature.

"We also alert the public to avoid responding to such calls, messages, and opening any hyperlink that may be attached, which may provide exposure to a malicious website and inform authorities immediately," it added.

The public should be aware that CBUAE never conducts phone calls - unless a consumer complaint has been logged through the right channels with a reference number - or uses social media to contact individuals or businesses.

Any suspected fraudulent phone call should be reported to the respective authorities, the Central Bank advised, adding that it is closely working with concerned authorities to halt such fraudulent activities.

WAM