Call for free consultation +971 501605046

Follow us on:   

ARE YOU A VICTIM OF BANKING FRAUD IN UAE?

ARE YOU A VICTIM OF BANKING FRAUD IN UAE?

Society without crime is a myth & UAE is facing hard time accepting it. Cases of fraud has risen dramatically all over the world, and that’s not all the damage covid-19 has done so far. UAE central government and Dubai state government is working day and night to catch these criminals and prevent these criminal activities by spreading awareness amongst residents to avoid such frauds.Now what is Fraud? it is an act of acquiring or receiving money, moveable goods, or immoveable real property owned by another person through deception and fraudulent means. Let us further unravel the mystery of frauds committed in the country:

  1. Phishing: It is a fraudulent practice of sending emails purporting to be from reputable organizations to induce individuals to reveal personal information. One must not respond to unsolicited messages from banks and always enable spam filters on email accounts.
  2. Vishing: It is a fraudulent practise of making phone calls or leaving voice messages to induce individuals to reveal personal information, such as bank details and credit card numbers. residents should not take calls from unfamiliar numbers. If you do, never share passwords, pins or OTPs over the phone. conduct an independent web search to verify.
  3. Domain spoofing: Domain spoofing occurs when an attacker uses a company’s domain to impersonate a company or its employees. They send emails with false domain names which seem legitimate, or by setting up websites with slightly altered characters. one must look out for misspellings & ‘lock’ icon next to the website URL and only share the bare minimum.
  4. Sim card fraud/sim swap hack: Also known as phone account hijacking, it is a form of identity theft in which the hacker is able to steal your mobile account and the personal data attached to it. The victim should contact the mobile provider, check bank statements regularly, file a complaint to the police and change passwords using another device.
  5. Scams: Coronavirus scammers were contacting residents to discuss investment in a cure for coronavirus and asked for donations. lottery messages are sent in bulk and usually involve payment of some amount to unlock any benefit/gift, or credit/debit card information. Always verify the details of the vendor, and check their trade license and registration papers.

Other than these, ATM frauds in which criminals employ a number of devious tricks at ATMs to obtain your pin, account number and expiry date or magic ink fraud in which the fraudster will present you with pre-filled forms, paperwork for a new credit card or personal loan and cheque that requires the victim’s signature are also common in the UAE.

If you are a victim of any of the above-mentioned frauds the trick is to contact us at info@bsb.legal or call us on +9718014003. Our top banking lawyers or corporate legal experts in Dubai will assist you in registering criminal or civil case against the fraudster to prevent further damage and claim damages and adequate compensation for the same.
Don’t miss out this golden business opportunity

Leave a Reply

Your email address will not be published.

Back to top