Today's Edition
DUBAI (ALETIHAD)
Dubai Police, represented by the Anti-Fraud Center in the General Department of Criminal Investigation, warns the community to avoid engaging with companies or platforms that promote misleading investment offers. These offers often promise fixed monthly returns of up to 10% with no associated risks, which is a clear indication of potential fraud aimed at luring victims and seizing their funds.
The police clarified that some companies promote themselves through social media and paid online advertisements, using the names and logos of reputable financial institutions to create a misleading sense of credibility. They often operate without valid licenses from regulatory authorities.
These scammers frequently employ pyramid schemes or promise false returns, collecting funds from new investors to provide temporary profits to earlier victims before disappearing without a trace. Additionally, Dubai Police emphasised that expecting a monthly return of 10% or more is unrealistic in a regulated investment environment. High returns inherently come with corresponding risks, and such claims are clear warning signs of potential financial fraud. The police urge the public to exercise caution and resist the temptation of false promises of quick returns.
They stress the importance of verifying company licenses with the relevant authorities before making any investments or transferring funds. The public is encouraged to report any suspicious activities or advertisements immediately through the eCrime platform or by calling 901. The police underscored the shared responsibility of combating financial fraud. They emphasised the importance of raising community awareness as the first line of defence against falling victim to such criminal activities.
