Avoid getting cheated or scammed in Dubai

To avoid getting cheated or scammed, consumer education is extremely important. The Dubai Financial Services Authority (DFSA) has created a special section on their website and updates it regularly with the latest scams that might affect DIFC and investors. We reproduce some of their content to educate you on how to avoid being scammed.

Typical scams might begin by unknown people contacting you by phone, email or fax and informing you of an amazing investment opportunity that will make you lots of money. Remember the old saying: ‘If it sounds too good to be true, it probably is.’ You should ask the caller for proof of identity and registration/license preferably in writing. A simple internet search may not be sufficient protection as many scammers have developed sophisticated websites to conceal their true purpose.

A variation of this scam is when the unknown person calls or emails you to inform you that you have won an amazing lottery/prize, even though you may not have taken part in such a lottery. After you respond, you will gradually be told that you have to pay a small registration fee or transfer mobile credit to another mobile. Each time you send money, some more fees will be requested since the scam is to try and drain you out of as much money as possible.

Another scam is the fake bank email/phishing scam. While this scam takes many forms, the most common is when you receive an email that claims to be from a bank/credit card company telling you that due to security, maintenance, irregularities, upgrades etc, you need to provide account details, PIN numbers and passwords. You will then be directed to a fake website which looks identical to your bank website. Remember your bank will never/should never ask you for your financial details by email or over the Internet, so any such request is almost certain to be a phishing scam.
The DFSA also advises against financial scams known as Ponzi schemes, boiler rooms scams and the advance fee fraud (sometimes known as the Nigerian letter scam as many of them first originated from Nigeria). Please see the DSFA website for more details.
 
How to avoid being scammed
If you receive an offer of an amazing deal out of the blue, don’t believe it! If it seems too good to be true then it probably is a scam. If you receive an opportunity to invest in a financial product which either looks real, offers bigger and faster profits than real investments, offers less risk and less and less effort than real investments, offers something special that genuine investments don’t offer or urges you to act urgently, DO NOT INVEST!
 
Who to contact for more information, complaints and investigations on scams
DFSA– The Dubai Financial Services Authority is the independent regulator of financial and ancillary services conducted in or from the DIFC. You can see DFSA alerts on common scams or lodge a complaint online by visiting the DFSA website.
 
SCA – The Securities & Commodities Authority is the regulator of securities and commodities within the United Arab Emirates (UAE), excluding the DIFC. It is responsible for ensuring transparency, integrity and justice as well as the development of investment awareness.


Central Bank
- The Central Bank of the UAE is the regulator of banks and other financial institutions in the UAE, excluding the DIFC. The main responsibility of the Central Bank is the formulation and implementation of banking, credit and monetary policies to ensure the growth of the national economy of the UAE in a balanced manner.

Dubai Police - Dubai Police seeks to ensure the safety and security of all citizens and residents of Dubai and the UAE. It provides a service by which individuals are able to report suspicious or criminal behaviour. Dubai Police also has an Economic Crimes Combating Department. The Department can be contacted directly on +971-4-2036341.

 

Published Date : 20/02/2013Back
RELATED GOVERNMENT ENTITIES
Dubai Police
Dubai Foundation for Women and Children

RELATED PRIVATE LINKS

RELATED TOPIC LINKS
Avoid bringing banned items into Dubai – Dubai.ae
Securing homes during vacation -Dubai Police eService
UAE cyber crimes law- Gulf News

THIS LIFE EVENT SUPPORTED BY
For private sector
Not listed here? Do you wish to contribute?
Talk to our content team.

FOR CUSTOMERS
Did you find any incorrect information? Any suggestions?
Help us improve.


Life Events Top Category

Citizens; Residents

Individual Life Events

Reporting crime and ensuring safety in Dubai

Sublife Event Title

Avoid getting cheated or scammed in Dubai

Life Events Supporting Partners

Dubai Police

Rank

1

Published Date

06/06/2011

ExpiryDate

05/06/2019

AlertDays

0

Body

To avoid getting cheated or scammed, consumer education is extremely important. The Dubai Financial Services Authority (DFSA) has created a special section on their website and updates it regularly with the latest scams that might affect DIFC and investors. We reproduce some of their content to educate you on how to avoid being scammed.

Typical scams might begin by unknown people contacting you by phone, email or fax and informing you of an amazing investment opportunity that will make you lots of money. Remember the old saying: ‘If it sounds too good to be true, it probably is.’ You should ask the caller for proof of identity and registration/license preferably in writing. A simple internet search may not be sufficient protection as many scammers have developed sophisticated websites to conceal their true purpose.

A variation of this scam is when the unknown person calls or emails you to inform you that you have won an amazing lottery/prize, even though you may not have taken part in such a lottery. After you respond, you will gradually be told that you have to pay a small registration fee or transfer mobile credit to another mobile. Each time you send money, some more fees will be requested since the scam is to try and drain you out of as much money as possible.

Another scam is the fake bank email/phishing scam. While this scam takes many forms, the most common is when you receive an email that claims to be from a bank/credit card company telling you that due to security, maintenance, irregularities, upgrades etc, you need to provide account details, PIN numbers and passwords. You will then be directed to a fake website which looks identical to your bank website. Remember your bank will never/should never ask you for your financial details by email or over the Internet, so any such request is almost certain to be a phishing scam.
The DFSA also advises against financial scams known as Ponzi schemes, boiler rooms scams and the advance fee fraud (sometimes known as the Nigerian letter scam as many of them first originated from Nigeria). Please see the DSFA website for more details.
 
How to avoid being scammed
If you receive an offer of an amazing deal out of the blue, don’t believe it! If it seems too good to be true then it probably is a scam. If you receive an opportunity to invest in a financial product which either looks real, offers bigger and faster profits than real investments, offers less risk and less and less effort than real investments, offers something special that genuine investments don’t offer or urges you to act urgently, DO NOT INVEST!
 
Who to contact for more information, complaints and investigations on scams
DFSA– The Dubai Financial Services Authority is the independent regulator of financial and ancillary services conducted in or from the DIFC. You can see DFSA alerts on common scams or lodge a complaint online by visiting the DFSA website.
 
SCA – The Securities & Commodities Authority is the regulator of securities and commodities within the United Arab Emirates (UAE), excluding the DIFC. It is responsible for ensuring transparency, integrity and justice as well as the development of investment awareness.


Central Bank
- The Central Bank of the UAE is the regulator of banks and other financial institutions in the UAE, excluding the DIFC. The main responsibility of the Central Bank is the formulation and implementation of banking, credit and monetary policies to ensure the growth of the national economy of the UAE in a balanced manner.

Dubai Police - Dubai Police seeks to ensure the safety and security of all citizens and residents of Dubai and the UAE. It provides a service by which individuals are able to report suspicious or criminal behaviour. Dubai Police also has an Economic Crimes Combating Department. The Department can be contacted directly on +971-4-2036341.

 

Life Event Banner

Related Government Entity

Dubai Police; Dubai Foundation for Women and Children

Related Topics

Avoid bringing banned items into Dubai – Dubai.ae; Securing homes during vacation -Dubai Police eService; UAE cyber crimes law- Gulf News

Related Private Links

 

Number of Ratings

0

Rating (0-5)

Item is currently unrated. Press SHIFT+ENTER to rate this item.1 star selected. Press SHIFT+ENTER to submit. Press TAB to increase rating. Press SHIFT+ESCAPE to leave rating submit mode.2 stars selected. Press SHIFT+ENTER to submit. Press TAB to increase rating. Press SHIFT+TAB to decrease rating. Press SHIFT+ESCAPE to leave rating submit mode.3 stars selected. Press SHIFT+ENTER to submit. Press TAB to increase rating. Press SHIFT+TAB to decrease rating. Press SHIFT+ESCAPE to leave rating submit mode.4 stars selected. Press SHIFT+ENTER to submit. Press TAB to increase rating. Press SHIFT+TAB to decrease rating. Press SHIFT+ESCAPE to leave rating submit mode.5 stars selected. Press SHIFT+ENTER to submit. Press SHIFT+TAB to decrease rating. Press SHIFT+ESCAPE to leave rating submit mode.

AlertUpdateDate

20/02/2013

AlertNewDate

06/06/2011

TopCategory:TopCategoryArabic

للمواطنين; المقيمون

TopCategory:TopCategoryEnglish

Citizens; Residents

ArticleCategory:CategoryArabic

السلامة العامة والإبلاغ عن الجرائم في دبي

ArticleCategory:CategoryRank

18

ArticleCategory:CategoryIconURL

/Article%20Category%20Icons/cr_comm_rpt_crime_ens_sft.jpg

ArticleCategory:CategoryEnglish

Reporting crime and ensuring safety in Dubai

ArticleCategory:ShowOnHomePage

No

GovernmentEntity:ArabicURL

http://www.dubaipolice.gov.ae/; http://www.dfwac.ae/

GovernmentEntity:EnglishURLText

Dubai Police; Dubai Foundation for Women and Children

GovernmentEntity:EnglishURL

http://www.dubaipolice.gov.ae/; http://www.dfwac.ae

GovernmentEntity:ArabicURLText

شرطة دبي; مؤسسة دبي لرعاية النساء والاطفال

PrivateLinks:ArabicURLText

 

PrivateLinks:ArabicURL

 

PrivateLinks:EnglishURLText

 

PrivateLinks:EnglishURL

 

TopicLinks:EnglishURLText

Avoid bringing banned items into Dubai – Dubai.ae; Securing homes during vacation -Dubai Police eService; UAE cyber crimes law- Gulf News

TopicLinks:EnglishURL

http://dubai.ae/en/Lists/HowToGuide/DispForm.aspx?ID=6; http://www.dubaipolice.gov.ae/dp/english/e_services.jsp?Page=A26&Id=13735&num2=SRV&mainlayid=194; http://gulfnews.com/uaessentials/residents-guide/legal/uae-cyber-crimes-law-1.442016

TopicLinks:ArabicURLText

تجنب جلب مواد محظورة إلى الإمارات العربية المتحدة; نصائح لحماية المنازل في أثناء السفر; قانون الجرائم الإلكترونية في الإمارات

TopicLinks:ArabicURL

http://dubai.ae/ar/Lists/HowToGuide/DispForm.aspx?ID=6; http://www.dubaipolice.gov.ae/dp/e_services.jsp?mainlayid=2&num2=SRV&Id=13736&Page=A26&; http://gulfnews.com/uaessentials/residents-guide/legal/uae-cyber-crimes-law-1.442016

ArticleSupDepart:ImageName

cr_comm_avoid_cheated

ArticleSupDepart:DepartmentURL

http://www.dubaipolice.gov.ae/dp/english/main.jsp?

ArticleCategory:AdditionalTopCategory

 

ArticleCategory:ID

2

ArticleCategory:RankCitizen

180

ArticleCategory:RankResidents

180

ArticleCategory:RankBusinesses

0

ArticleCategory:RankVisitors

0

ModificationDt

20/02/2013

MobileRank

0

Attachments

Created at 06/06/2011 14:53 by Ali Developer
Last modified at 20/02/2013 14:19 by Jamal Almulla