UAE warns against online fraud as part of an urgent effort to protect residents from rising cybercrime. The Ministry of Interior (MoI) has issued a strong alert regarding fake trading platforms targeting people with promises of easy profits. These platforms often impersonate licensed companies to appear trustworthy.
According to the Ministry, many victims fall for these scams after receiving promotional messages on social media. These messages advertise quick earnings with little effort. However, once money is transferred, the platforms disappear.
One victim shared his experience during the Ministry’s “Don’t Fall for It” campaign. He believed he was investing in a secure platform. At first, small profits convinced him to invest more. Eventually, he deposited Dh42,000. When he tried to withdraw his funds, he was told a technical issue required another Dh42,000 to “unfreeze” the account. After paying, he realized it was a scam.
UAE warns against online fraud in its campaign by highlighting real cases. The Ministry advises everyone to check any trading platform’s license through the official Securities and Commodities Authority website before investing.
Colonel Dr. Ibrahim Al Miyahi, Director of Digital Security at MoI, detailed how modern scams work. He explained that cybercriminals now use artificial intelligence to create fake content. Many victims struggle to tell the difference between real and fake platforms.
He also warned about fraudulent SMS messages that impersonate banks and government agencies. These messages often contain fake payment links that steal personal and banking data.
The “Don’t Fall for It” campaign includes videos, podcasts, and social media posts in multiple languages. It aims to educate people about online fraud and how to avoid it. The Ministry encourages everyone to report suspicious messages using the “MOIUAE” app.
Financial experts echoed these warnings. They said many new investors lack basic knowledge, making them vulnerable to scams. Experts recommend working only with licensed trading companies based in the UAE.
UAE warns against online fraud by stressing that recovery of funds is nearly impossible when scammers operate from abroad. The Ministry urges caution and awareness to stop cybercriminals from taking advantage of unsuspecting users.
