Dubai Police warn against promotion of deceptive investment offers

The Dubai Police's Anti-Fraud Centre, which is part of the General Department of Criminal Investigation, has warned the public against dealing with companies or platforms that promote deceptive investment offers.

These offers claim to provide fixed monthly profits of up to 10% with no risk. However, the Centre has stressed that these offers are clearly fraudulent and are designed to lure victims and steal their money.

The Dubai Police explained that some of these companies promote themselves via social media platforms and sponsored online advertisements. They use the names and logos of well-known financial institutions to create the illusion of credibility, but in reality they operate without an official licence from the country's regulatory authorities. They pointed out that fraudsters rely on pyramid schemes or fictitious returns, collecting money from new investors to pay temporary profits to previous victims before suddenly disappearing with the funds.

Dubai Police emphasised that achieving a monthly return of 10% or more is unrealistic in a regulated investment environment. This is because high returns cannot be guaranteed without corresponding risks. Such claims are therefore a key indicator of financial fraud.

The Dubai Police have urged the public to exercise extreme caution and not to be deceived by promises of quick returns. They stressed the importance of verifying company licences with the relevant authorities before investing or transferring any funds, and urged individuals to report any suspicious activities or advertisements immediately via the eCrime platform or by calling 901.

The Dubai Police concluded by emphasising that combatting financial fraud is a shared responsibility, and that raising community awareness is the first line of defence against individuals becoming victims of such criminal schemes.