Latest news with #AntiFraudCentre
UAE Moments
21-07-2025
- UAE Moments
Dubai Police Arrest Group Running Fake Trading Scheme Online
Dubai Police have busted a cybercrime gang that ran a fake trading and investment scam through social media. The gang tricked victims by pretending to represent well-known online trading platforms and lured them with promises of fast and high profits. Join our FREE WhatsApp channel to dive into a world of real-time engagement! The arrests were carried out by the Anti-Fraud Centre at the General Department of Criminal Investigation after weeks of close monitoring and investigation. The operation was revealed as part of the national awareness campaign #BeAwareofFraud, which aims to educate the public about common scams. According to the police, the gang contacted victims through phone calls and social media, convincing them to transfer money to supposedly invest in electronic trading platforms. However, the money was actually moved to bank accounts outside the UAE. Thanks to the diligent efforts of the Dubai Police, the identities and locations of the suspects were tracked down, leading to their swift arrest. Legal procedures have already begun to refer them to the relevant judicial authorities. Dubai Police continue to urge the public to stay cautious and verify the legitimacy of any investment opportunity before sending money or sharing personal details. If you suspect fraud, report it immediately through the eCrime platform, the Dubai Police app, or by calling 901.
Emirates 24/7
21-07-2025
- Emirates 24/7
Dubai Police Nab Cybercrime Gang Posing as Investment Brokers
Dubai Police have apprehended a cybercrime gang that specialised in online fraud by promoting fake trading and investment schemes through social media platforms. The arrests were made by the Anti-Fraud Centre at the General Department of Criminal Investigation following intensive monitoring and investigation. The operation, which the force revealed its details as part of the national awareness campaign #BeAwareofFraud, was launched after receiving several reports from victims who were contacted by the gang via phone calls. The suspects falsely claimed to represent reputable electronic investment and trading platforms, using this cover to gain the trust of their targets. The gang convinced victims they could earn high and quick profits, prompting them to transfer funds which were subsequently funnelled into bank accounts outside the UAE. The identities and locations of the suspects were thoroughly identified, leading to their swift arrest. Legal measures have been taken to refer them to the competent judicial authorities. Follow Emirates 24|7 on Google News.
Gulf Business
21-07-2025
- Gulf Business
Dubai Police arrest cybercrime gang behind fake online investment schemes
Image: Dubai Media Office The arrests were carried out by the Anti-Fraud Centre at the General Department of Criminal Investigation, following extensive monitoring and investigation efforts, according to a report published by the Dubai Media Office. The suspects had contacted victims through phone calls, falsely presenting themselves as representatives of legitimate electronic trading and investment platforms. They used these claims to gain victims' trust and convince them to transfer funds with the promise of fast and high returns, police said. The funds were then funneled into bank accounts located outside the UAE, authorities added. Dubai Police made the arrest as part of larger efforts to raise awareness about cyber threats The operation was part of the ongoing national awareness campaign, launched to educate the public about rising cyber threats. Dubai Police said they acted swiftly after receiving several reports from victims and were able to identify the gang's identities and locations before making the arrests. Legal procedures have been initiated to refer the suspects to the appropriate judicial authorities.
Arabian Business
20-07-2025
- Arabian Business
Dubai Police arrest cybercrime gang behind fake investment schemes on social media
Dubai Police have arrested a cybercrime gang that operated fake trading and investment schemes through social media platforms. The Anti-Fraud Centre at the General Department of Criminal Investigation made the arrests following monitoring and investigation work. Police revealed details of the operation as part of the national awareness campaign #BeAwareofFraud, the Dubai Media Office said in a statement. Fake trading platform scammers arrested by Dubai Police anti-fraud centre The investigation began after police received reports from victims who had been contacted by the gang through phone calls. The suspects claimed to represent electronic investment and trading platforms to gain the trust of their targets. The gang told victims they could earn profits quickly, convincing them to transfer funds. The money was then moved into bank accounts outside the UAE. Police identified the identities and locations of the suspects before making the arrests. The suspects have been referred to judicial authorities through legal measures.
National Post
26-06-2025
- Business
- National Post
Scammers now impersonating senior government officials and CEOs to swindle Canadians
Article content 'If you receive a message claiming to be from a senior US official, do not assume it is authentic.' Article content For the head of the Canadian Cyber Threat Exchange, Jennifer Quaid, these types of scams have become so prevalent that she now suggests to private sector workers that they shouldn't always believe that it's their boss that's calling when the number appears on their phones. Article content 'Never assume it's your boss,' she told National Post. Article content 'I would give a CEO, a CFO and my 21-year-old daughter exactly the same advice: stop and think about it. Take a minute to think about what the request is, and then say, 'I will call you back' and reach out to that person using another known channel of communication,' she added. Article content 'If your boss is serious about wanting you to transfer $20 million, I don't think they're going to object to your saying, 'I will call you right back'.' Article content Just in the first three months of 2025, the Anti-Fraud Centre says it has received nearly 13,000 reports of fraud generating over $165 million in losses for 9,092 victims. But as always, that is only the tip of the iceberg as the vast majority of victims don't report the crime to authorities. Article content Article content Both the Cyber Centre and Quaid say AI has tremendously boosted criminals' ability to make their scams more believable. But Quaid also believes that threat actors not being constrained by legal AI guardrails has allowed them to harness AI faster and more effectively than businesses trying to defend themselves. Article content 'They're not using it with rules. We have rules, and I want to be very clear, rules are a very good thing,' Quaid said of scammers. 'But they are operating in a criminal environment without rules, without regard to due process and without regard to privacy, and that's why they're able to do more with some of these tools than we are.' Article content In recent weeks, government agencies have increasingly warned Canadians that scammers are spoofing their phone numbers to appear legitimate. Spoofing allows fraudsters display a fake number on a phone's caller ID. Article content Even organizations like the Communications Security Establishment, the country's cyberdefence agency, have not been spared. Article content
