Dubai warns residents against falling victim to fraudulent investment, trading schemes

As part of their ongoing efforts to promote community awareness within the ‘Beware of Fraud’ campaign, Dubai Police have warned members of the society against falling victim to fraud related to fake investment and trading opportunities, which are promoted by fraudsters using misleading methods that deceive victims into believing they can achieve quick and guaranteed profits.

"These methods are witnessing a significant increase across digital platforms and social media," they said.

"Fraudsters tend to lure victims through attractive advertisements or direct messages, claiming to offer exclusive investment opportunities or enticing trading offers such as promises of high financial returns over a short time," they added.

"Exploiting some people’s desire to make quick profits, fraudsters ask them to transfer money urgently or enter their personal and financial data through fake links, so that the victims fall into the trap of fraud," they said.

Reliable investment platforms do not offer guarantees of fixed or guaranteed profits, nor do they ask customers to transfer funds urgently or outside official frameworks, they added, underlining the importance for the licence of any investment entity or trading platform to be verified from the competent authorities in the country before dealing with it.

Dubai Police urged members of the society not to be misled by false advertisements or unrealistic promises, to verify the credibility of entities offering such opportunities and to avoid sharing any personal or banking information through unreliable websites or links, as this poses significant risks that could lead to substantial financial losses.

They also called on the public to immediately report any fraudulent attempts or suspicious investment offers through eCrimes platform, through approved official channels or by calling 901 for non-emergency cases, stressing that community co-operation is a key element in reducing these crimes and protecting individuals and their property.