UAE warns residents against falling victim to fake insurance companies

The Ministry of Interior (MoI) warns of a new fraudulent method on social media platforms, involving the creation of fake accounts impersonating vehicle insurance companies and offices, offering services at attractive and unrealistic prices, aiming to lure victims and deceive them into issuing insurance policies in return for transferring funds in advance, and after completing the transfer, the victim discovers he has fallen victim to an electronic fraud.

The MoI emphasised the necessity of verifying the licence of the insurance company or broker before transferring any money, and relying only on approved applications and licensed insurance offices, and being cautious of attractive offers and not being misled by deceptive advertisements.