Latest news with #Nalini
The Hindu
19-07-2025
- Health
- The Hindu
Does India Have the Infrastructure to Support Its Elderly?
Published : Jul 18, 2025 15:49 IST - 13 MINS READ Nalini (name changed), 82, who lives alone in Bengaluru, suffers from asthma, eczema, and mobility issues. For each ailment, she visits a different specialist. But often, it takes her weeks to get an appointment. When she does get one, she has to wait for hours to see the doctor because the hospitals are crowded. For her fragile body, the experience is stressful. Her story is not unique—it is the stark reality for millions of India's older adults. India is on the cusp of a demographic revolution, projected to have the world's largest population of older adults by 2067, according to a recent report by Dalberg, Ashoka and Rohini Nilekani Philanthropies. The life expectancy of Indians is expected to increase from 72 in 2023 to 77 by 2045 and 83 by 2080. Alarmingly, the report says the country's older adults rank poorly on several critical health indicators—52 per cent suffer from at least one non-communicable disease (NCD) such as diabetes or cardiovascular ailments. Is our healthcare system prepared for this ageing population and the immense burden of chronic diseases? 'Our current healthcare system is designed for challenges like acute illnesses and infectious diseases that we as a country faced in the last century,' said Dr Gopukrishna Pillai, public health director at Palliative and Old Age Care at One Billion Lives Foundation, an NGO based in Bengaluru and the US. He added that the incidence of NCDs is rising because both government- and private-sector healthcare is overly focussed on hospital-based care, neglecting health promotion and disease prevention, and not addressing the risk factors for conditions like diabetes and hypertension. 'We need a fundamental shift towards population-level NCD management, integrating early surveillance with stronger, more accessible primary healthcare.' Sumit Tayal, CEO of Give Grants, a platform that helps organisations raise funds, said, 'The reality is that our current public health infrastructure is already struggling. With a rapidly ageing population, particularly a growing number of elderly women living alone with little economic agency, the strain will become critical.' Give Grants released a report titled 'India's Ageing Society: The Landscape Today' in March 2025, which had [DP1] health statistics that were similar to those of the Dalberg report. Also Read | Seventy and surviving The Give report states that there are only 270 geriatricians for a population of 140 million senior citizens. While private home care and assisted living communities exist, they remain financially out of reach for most. This leaves a gaping hole in accessible care for older adults. Tayal added, 'The preparedness, or even the acknowledgement that we are headed in that direction, is currently missing. It's not that the technology is missing or the solutions are missing, but funding and deployment are far short of the requirement. The sheer gap in healthcare infrastructure for specialised geriatric and palliative care and what is needed is a big concern.' One way to address this gap is to 'reframe the global megatrend of an ageing population as an opportunity for development', opined Vijeth Iyengar, a contributor to the Dalberg report and global ageing director at AARP, US, a non-profit organisation that focusses on the priorities of older adults. He said there were four broad areas ripe for further growth and development—boosting infrastructure, better data collection and standardisation, strengthening research, and increasing the size of the medical workforce including geriatricians specialised in treatment and care of older populations. 'Additionally, there is also a need to analyse the geographic status and population trends, including urbanisation and fertility rates, understand the global ageing landscape, and investigate the role of research, impact, quality, and funding in addressing ageing-related challenges.' Funding and policy challenges India aims to be a $10-trillion economy by the mid-2030s. But this aspiration faces a significant demographic challenge. By 2045, the number of older adults is projected to reach 300 million, double the current figure, states the Dalberg report. Tayal added, 'In less than a decade we will have a large number of people above 60. If you compare the sheer size of these numbers with any government or philanthropic initiative in India, there are hardly any initiatives that is targeting older adults.' The investment in healthcare industry is largely focussed on women, maternal health, young adults, and children, observed Asha Banu Soletti, professor at the Centre for Health and Mental Health, Tata Institute of Social Sciences (TISS), Mumbai. 'For age-related vulnerability, we have to really look in terms of how much we are investing, and evolve context-specific interventions.' Iyengar added that ageism is a pervasive issue that prevents society from adequately addressing the needs of our ageing populations. This widespread bias leads to a critical lack of policy development, causing health and social issues faced by older adults, including elder abuse, to be largely ignored. 'Here at AARP, we have a huge nationwide network of volunteers who help create advocacy, and raise awareness about the lived experiences of older adults and their family/caregivers. Creating advocacy is essential for policy to move.' Tayal added that lack of sensitisation kept the subject of ageing largely out of public discourse. 'Schools, colleges, healthcare professionals, and most importantly, policymakers need to be sensitised about ageing. It is not just about putting in the dollars and hoping that will build up the infrastructure. Without sensitisation, it will be very difficult to attract investment or attention.' Social isolation and mental health Perhaps because of ageist attitudes and lack of sensitisation, India lacks sufficient avenues for older adults to lead meaningful lives, unlike the numerous options available for children, said Soletti. 'As traditional roles and livelihood opportunities diminish, many older individuals experience a profound loss of productivity and purpose.' Age-related limitations can further isolate them, even from customary social engagements like religious activities. This social isolation contributes significantly to loneliness and mental health issues among seniors. The Dalberg report found that 8 per cent of older adults display symptoms of depression, with the number expected to double in the next two decades. Soletti added, 'To my knowledge, very few older adults are referred to a counsellor. Even if they are referred, it is debatable if the counsellor is an expert in geriatric counselling. We need to urgently develop and strengthen this discipline to address the mental well-being of our ageing population.' For those who are housebound or disabled, the situation is even worse. 'We need some models where a trained professional such as physiotherapist can visit and also handle some of the mental healthcare aspects,' she said. Additionally, in rural areas, where access to public health centres (PHC) is already a challenge, people struggle as many become immobile as they deal with arthritis or find themselves becoming hunchbacked after a lifetime of carrying heavy loads. According to Ranjana Vishe, who works on a TISS field action project in Maharashtra's Waghivali village, accessing the nearest PHC, which is five kilometres away, is difficult as there are no convenient public transport options. She said: 'While ASHA workers visit periodically, they mainly attend to the needs of pregnant women and children. The older adults, many of whom are frail, have to walk 5 km to the PHC, and to do this they have to depend on someone to help them and also take periodic rests on the way.' Soletti added, 'Even when older adults access a hospital or clinic, the full scope of the problem is not captured. For example, if there is anuresis [inability to urinate] or bedwetting, it is normally diagnosed from a point of medical sciences, whereas it could be a psychological issue. The illness may also be a sign of emotional abuse.' The healthcare system should be equipped and trained to handle these issues. Need for multidisciplinary approach 'Ageing cannot be looked at through the lens of health alone. It's an infrastructure issue, demographics issue, housing issue, and transportation issue. We need to determine social determinants of health and look at it holistically,' said Iyengar. Dr Pillai added, 'Geriatric care should combine medical management of diseases with evidence-based risk-reduction strategies as appropriate to each individual's life stage and goals of care. There is also a need for substantive advocacy component and forging of interdisciplinary collaborations.' For example, fall risk mitigation is extremely important in an older adult because their bones are weak and a fall leads to a drastic downturn in overall health. 'A conventional solution would be to set up a hospital-based fall prevention unit with a physician and a physiotherapist. This is all essential. However, there is a difference between what is sufficient and what is necessary,' Dr Pillai said. He explained that while a patient is being treated for fall risk, their neighbourhood has to be checked for better street lighting or better pavements to prevent fall. 'We need to look at each of our systems—from public services such as transportation to policies—to assess how fit they are for an older person at risk of fall. That is the degree of intentionality and seriousness that needs to come into this.' Also Read | State of the elderly 'We need more trained professionals, more structured systems. But most of all, we need to start with empathy,' said Dr Jonita Furtado, senior consultant at St. John's Geriatric Centre, Bengaluru. Providing quality healthcare to older adults involves understanding their lives, their limitations, and their often-unspoken needs. In crowded hospital settings, this is easier said than done. 'Every patient that comes to us undergoes a holistic screening: from fall risk, cognition, mood and sleep patterns, to vision and hearing. Strength and balance are assessed by physiotherapists. Their social context is also evaluated—whether they live alone, if they have a support system, and how engaged they remain in community life,' Dr Furtado said. This ensures that the underlying problems do not go unnoticed. Home and community-based services The St. John's Geriatric Centre was started based on learning from the Senior Citizen Health Service initiative launched in 2003 by St. John's Medical College. The Senior Citizen Health Service has set up clinics for elderly people in rural and urban areas, and visits by doctors and nurses to old age homes are organised; elderly patients who live in their own homes are also visited. 'The same set of doctors and nurses undertake these visits once a month to check their health—these also serve as social visits as the doctors have built familiarity in the community,' said Dr Pretesh Kiran, associate professor in the Department of Community Medicine as St. John's Medical College, who coordinates the service. 'We need to ensure healthy ageing so that older adults can live a healthy productive life in their own homes, and this service is one way of ensuring realisation of this goal.' But the public healthcare system is not equipped to provide this kind of homecare for older adults. Dr Pillai said: 'In geriatrics and palliative care, the sickest and the most vulnerable patient you are meant to support is not a patient who can walk into a hospital. It is a patient who probably cannot even walk to their own toilet. But currently, if at all there is any home care, it is left to the least experienced, least trained person in the public healthcare system.' He added that while there is investment on building expertise, it is only serving the ones who can access healthcare services. Those with severe needs often cannot access the experienced physicians they urgently require. For instance, Lakshmi, a domestic worker in Bengaluru, bears the heavy burden of caring for her 95-year-old mother-in-law who has been bedridden since she had a fall six months ago. Lakshmi said: 'Local doctors refused treatment due to her old age, saying nothing can be done.' Hospitals are expensive for Lakshmi and her husband, who works for daily wages. Unable to afford care or adult diapers, her mother-in-law is forced to sleep on the ground without a bed, and it is left to Lakshmi to clean her soiled clothes. Soletti pointed out that solutions available for the problems of elderly patients are mostly piecemeal and stressed the need for holistic care. 'In one of my visits to a rural area, I found people with redness in their eyes after cataract surgery that was conducted by some charitable organisations; it happened because of inadequate post-surgery care. We need to have periodic outreach camps for older adults in urban slums and rural areas.' Some organisations, such as Pillai's One Billion Lives Foundation (OBLF), have come up with some solutions. In Anekal, OBLF has implemented a grassroots, decentralisedcare model serving approximately 75,000 people of all ages across five gram panchayats since August 2024. Dr Pillai said: 'We provide clinical services tailored to their care goals at various locations, including our centre, through home care, and at community clinics within government hospitals or partner NGOs such as destitute homes.' Training and government initiatives Dr Pillai acknowledges that every hospital or organisation cannot conduct home care visits. 'But within the constraints we have, we need to make sure that every person is supported to the extent possible. A lot of the work done by doctors can be and should be picked up by other professionals augmented by training and technology. And it needs to be done in a focussed manner.' He explained that while the overall accountability for patient care needs to remain with doctors, responsibility for specific tasks could be transferred to others in a responsible manner. That is where training, culture, and technology come in. By leveraging these additional resources, it can be ensured that each patient encounter is matched to the person most well-suited to their current need—be it a community volunteer, nurse or a senior physician, he added. Modules to train master trainers in geriatrics were developed by the National Health Skills Resource Center in 2019-20. Dr Pretesh Kiran of St. John's Medical College underwent this training and is now a master trainer. 'We train State level trainers who are then supposed to train different cadres of workers such as medical officers, nurses, ASHA workers, and so on, in geriatric care. Unfortunately, it has not trickled down to the last level. The knowledge is there, but willingness to implement this is lacking.' He added that several government health programmes exist in silos such as National Programme for Prevention and Control of Non-Communicable Diseases (NP-NCD), National Mental Health Programme (NMHP), and the National Programme for Healthcare of the Elderly (NPHCE). 'They all need to talk to each other in order to provide comprehensive care for older adults.' Also Read | Hospitals to healers: India's healthcare crisis The NPHCE, launched in 2011, envisaged providing holistic care and geriatric centres for older adults at all levels—from PHCs, community health centres, taluk hospitals, district and tertiary centres. 'However, it requires complete and robust implementation at all levels, especially primary and secondary care,' said Kiran. The Central government's Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY) is intended to provide health coverage for all adults over 70. However, many seniors struggle to access these benefits due to eligibility criteria and a lack of necessary documents. One doctor said that many hospitals had stopped accepting the scheme as the government had not cleared past dues. Dr Pillai said: 'There is a lot of well-intentioned work going on, but that work does not have the depth of understanding that is needed to handle the complexity of the field and produce outcomes. Geriatric care is much more than just medical management of diseases.' Deepa Padmanaban is an author and independent journalist writing on public health, environment, science, wildlife conservation and climate change. Her articles have been published in The Guardian, Scientific American, Discover Magazine, The Hindu, Mint and other publications.
The Star
24-06-2025
- Entertainment
- The Star
Tamil tribute adds shine to Shah Alam city silver jubilee
(From left) Wan Mohd Mahfodz, Sri Radhakrishnan, Saraswathy, MBOR official V. Menaga, Nalini, Nathindran and Zone 13 Penggerak Belia Selangor youth movement representative A. Vinod. A landmark celebration of Tamil heritage was held as part of festivities marking the silver jubilee of Shah Alam city. The 'Tamizh Vanna Vizha' event was organised by the Kota Kemuning assemblyman's office, Shah Alam City Council (MBSA), Zone 13 residents representative council (MPP), and arts and culture non-governmental organisation Sri Rathakrishanan Fine Arts (SRFA). Kota Kemuning assemblyman Preakas Sampunathan who played an instrumental role in the tribute via encouragement, involvement and facilitation. Masspoemrecital participants dressed as Bharathiyar during the tribute. The celebration, with over 3,000 attendees, was held at MBSA's Aster Hall in Bukit Rimau. Also present were Shah Alam mayor Datuk Mohd Fauzi Mohd Yatim and It was jointly launched Deputy National Unity Minister and Senator K. Saraswathy, Selangor human resources and poverty eradication committee chairman V. Papparaidu, Klang MP V. Ganabatirau, Tourism, Arts and Culture Ministry division secretary Mohamd Raizuli Mat Jusoh, arts and culture unit assistant director Wan Mohd Mahfodz Wan Hasan and Malaysia Hindhudharma Maamandram president Sri Radhakrishnan Alagamalai. In her address, Saraswathy expressed praise for how the tribute was led by youths. She also commended the event's role in reintroducing traditional and cultural knowledge to younger generations. Papparaidu voiced hope that the event would grow into a state-level celebration that could reinforce unity through cultural engagement. The idea for the tribute came from Zone 13 MPP chairman Nathindran Raj Baskaran. He then invited SRFA founder and president Nalini Rathakris to collaborate on an initiative for the Indian community. Nalini conceptualised the event as a celebration of Tamil Puthandu (new year) aimed at reviving and showcasing authentic Tamil cultural elements. Her vision was to create an immersive platform for the younger generation to embrace their cultural roots. An event highlight was a mass recital of 'Achamillai Achamillai' written by well-known 18th century poet Bharathiyar from Tamil Nadu, India. Featuring 1,631 participants from schools and cultural groups nationwide, the recital made it into the Malaysia Book of Records for the 'Most Participants in a Poem Recital'. It paid homage to Bharathiyar's fearless spirit and symbolised pride in Tamil identity. Adding vibrancy to the event were contests in Tamil public speaking, rangoli kolam art, thoranam tying, and bharatanatyam. A lively bazaar offered traditional food, attire, books and handmade crafts.
India.com
28-05-2025
- Lifestyle
- India.com
8 Beautiful Indian Baby Girl Names Inspired By Flowers
Muskan Kalra May 28, 2025 Nandini means a sacred and fragrant flowering tree and also means 'delightful' It means famous or glorious and sometimes poetically linked to the beauty of blooming flowers. Chandana means Sandalwood and associated with fragrant flowers and sacredness. It means Golden and often related to golden-colored flowers. Nalini is Lotus or water lily and it symbolizes purity and beauty. It means Sacred and beautiful and often associated with flowers and nature. It means Precious like a gem and also refers to the delicate beauty of flowers. Rohini means a red lotus flower and also a star associated with fertility and prosperity. Read Next Story
Khaleej Times
21-03-2025
- Business
- Khaleej Times
UAE forex scam: Fake websites, cold calls 'convince' residents to invest, dupe them out of millions
Do you know how many zeroes are in dirham one-hundred-and-fifty-thousand?' The voice on the phone is mocking, almost amused. 'Did I force you to invest the money?' 'Yes, you did!' 'Then come and take it, you #%&!' The conversation spirals into a barrage of expletives and threats. The once-persuasive broker now sounds menacing, his words thick with hostility. Khaleej Times has an audio recording of the three-minute call, capturing how a man who once promised riches now hounds his client with verbal abuse. But it wasn't always like this. When Imran Zaman, a civil engineer in Dubai, first heard from DuttFX in September 2024, it wasn't threats but charm that filled the airwaves. The 'relationship manager' was friendly, almost familiar. The conversations started with market insights—volatility in the wake of US bank collapses, golden opportunities in commodities, and whispers of massive dividends. Saying no wasn't easy. And so, Imran invested. Then he invested more. Until he had lost Dh180,000. He wasn't alone. Shishir lost Dh80,000; Nalini Dh52,000; Pravin Dh45,000. There are many more. Most of them took bank loans or maxed out their credit cards, lured by the promise of a 'highly secure trading environment'. Yet, none of them had ever set foot in a DuttFX office. Not because they didn't want to—but because no such office exists in the UAE. The same is true for other companies like EVM Prime Support, which operate solely through websites and cold calls. Keralite Mohammed Ayeshan, who lost Dh36,500 to EVM Prime Support, was led to invest purely based on phone conversations. His 'relationship manager' convinced him to make an initial deposit of $1,000 (Dh3,673). Over time, he was pressured into adding more funds, lured by the illusion of smooth trading and small early profits. 'I kept adding funds as instructed, believing I could recover my money.' Ayeshan said he borrowed on credit cards, hoping to recover losses. But the losses only deepened. His relationship manager instructed him to reverse trades, which only made things worse. 'Overall, I have lost everything. I am in severe depression, and my health has suffered.' Nalini, 59, another victim, had a similar experience. For years, she had ignored cold calls from forex brokers, but when a man named Abhimanyu persisted, she decided to test it with Dh1,000. He set up an account for her, providing a login and dashboard where she could monitor trades. 'Even when I travelled to India, he kept in touch, guiding me through trades in euros and dollars. Later, he pressured me to invest in gold and silver. I refused at first, but he is very good at convincing,' recalled Nalini. Abhimanyu assured her withdrawals were possible at any time, which gave her confidence to invest in three instruments—wheat and two currencies. But when her margin dropped, he warned that her account would be wiped out unless she deposited more funds. 'My balance was at -$7,000. Panicked, I deposited another $7,000 and took the opposite trade, believing it would help. But my balance plummeted to -$26,000, and my positions were locked. Now they're telling me to invest even more money to save my account,' she said. Familiar playbook The scam follows a familiar pattern. First comes the cold call—friendly, reassuring, and filled with financial jargon. Victims are persuaded to deposit an initial amount, often around $1,000, just to 'test the waters'. To build trust, brokers allow small withdrawals, reinforcing the illusion of easy access to funds. Then, the pressure starts. 'You're doing great—why stop now?' The so-called relationship manager pushes investors to increase their deposits, steering them toward 'golden opportunities' in forex, commodities, and crypto. They emphasise that withdrawals can be made at any time. But that's the lie. As deposits grow, so does the manipulation. Brokers pressure victims into high-risk trades, claiming it's the only way to 'protect profits'. Soon, they find themselves locked out—unable to withdraw funds, execute trades, or even contact their brokers. Their money is gone. Investigations show that these companies exist in the UAE in name only, leaving defrauded investors with no one to hold accountable. When Khaleej Times called the cellphone of Fatima, the purported relationship manager of EVM Prime Support, a woman named Sanjana answered. She confirmed that they operate from Dubai. However, when asked for a physical address and told that a reporter would visit, the call was immediately disconnected, and no further calls were answered. A similar attempt was made with Abhimanyu, the so-called relationship manager of DuttFX. When called, a man answered claiming he was not Abhimanyu. But when a call was placed from a different number, the next day, the same voice now claimed to be Abhimanyu. When confronted, he backtracked, saying he was just a namesake and had no connection to DuttFX. After that, no calls were answered again. For investors who have lost their savings, recovering money is nearly impossible. Without a registered entity in the UAE, victims have no legal recourse. Complaints to Dubai Police and other authorities have been filed, but with these firms lacking a physical presence, tracing them remains a challenge. And it's a challenge authorities have faced before. In one of the biggest forex frauds to hit the UAE, Sydney Lemos, the owner of Exential Forex, promised high returns through currency trading, luring thousands of expatriates into what was later exposed as a Dh1 billion Ponzi scheme. By the time the scam unravelled in 2017, families had lost their life savings. Lemos was sentenced to over 500 years in prison in Dubai—yet despite this landmark case, fraudulent forex platforms continue to thrive under different names. MMA Forex, operating from Al Nahda, and UT Markets, which relied on WhatsApp to target investors, followed a similar playbook. Like Exential Forex, they enticed victims with guaranteed returns, only to vanish when withdrawals were requested. It's a long list. Alpha Bull, which operated until a few years ago, vanished without a trace, leaving investors stranded with no way to retrieve their money. Despite repeated scams, new firms keep emerging under different names, running the same deception. More recently, Acme Consultancy and BlueChip, both operating from Al Jawhara Building in Bur Dubai, shut down overnight, taking millions of dirhams with them. There's an arrest warrant out for BlueChip owner Ravindra Nath Soni. Today, the names may change, but the scam remains the same. With no refunds in sight, many victims are now banding together to file collective complaints, hoping for legal intervention. Expert warnings But experts warn that recovery is rare—and prevention is the only safeguard. Nigel Sillitoe, CEO of Insight Discovery, warns investors about the risks of dealing with unregulated trading firms: 'It is deeply concerning that numerous unregulated online trading and forex investment companies continue to operate in the UAE. Investors must exercise extreme caution when approached by such firms, as many rely on cold calls and aggressive marketing tactics to lure individuals into fraudulent schemes.' Sillitoe stresses that UAE has over 40 regulated brokerage firms, and there is no reason to take unnecessary risks with companies operating illegally. Even legitimate financial institutions aren't safe from fraudsters. Last year, scammers impersonated Equiti Group, a well-known global fintech firm, to dupe investors. Among them was Dubai celebrity Lojain Omran, who unknowingly became the face of the scam. The UAE's Securities and Commodities Authority (SCA) eventually issued a public warning, clarifying that MRL Investments, operating under was not licensed and had no affiliation with Equiti Securities Currencies Brokers LLC (ESCB LLC). The real Equiti Group, which even has a Dubai Metro station named after it, was forced to disassociate itself from the fraudulent scheme. 'As financial markets evolve, so do scams,' said Brian Myers, Chief Commercial Officer of Equiti Group. 'Traders should stay vigilant, verify broker legitimacy, and avoid platforms that operate without clear oversight. It always makes sense to undertake some due diligence before investing.' Yet, despite high-profile arrests, public warnings, and repeated scams, the cycle continues. Regulators warn, victims speak out, and yet new firms emerge—offering the same false promises under different names. Until decisive action is taken to shut down these operations before they resurface, investors will continue to fall prey to the same deception—just under different names, say industry experts. For now, vigilance isn't just an option. It's the only defence.
Khaleej Times
21-03-2025
- Business
- Khaleej Times
Cold calls, false promises: The UAE forex scam that won't stop
Do you know how many zeroes are in dirham one-hundred-and-fifty-thousand?' The voice on the phone is mocking, almost amused. 'Did I force you to invest the money?' 'Yes, you did!' 'Then come and take it, you #%&!' The conversation spirals into a barrage of expletives and threats. The once-persuasive broker now sounds menacing, his words thick with hostility. Khaleej Times has an audio recording of the three-minute call, capturing how a man who once promised riches now hounds his client with verbal abuse. But it wasn't always like this. When Imran Zaman, a civil engineer in Dubai, first heard from DuttFX in September 2024, it wasn't threats but charm that filled the airwaves. The 'relationship manager' was friendly, almost familiar. The conversations started with market insights—volatility in the wake of US bank collapses, golden opportunities in commodities, and whispers of massive dividends. Saying no wasn't easy. And so, Imran invested. Then he invested more. Until he had lost Dh180,000. He wasn't alone. Shishir lost Dh80,000, Nalini Dh52,000, Pravin Dh45,000. There are many more. Most of them took bank loans or maxed out their credit cards, lured by the promise of a 'highly secure trading environment'. Yet, none of them had ever set foot in a DuttFX office. Not because they didn't want to—but because no such office exists in the UAE. The same is true for other companies like EVM Prime Support, which operate solely through websites and cold calls. Keralite Mohammed Ayeshan, who lost Dh36,500 to EVM Prime Support, was led to invest purely based on phone conversations. His 'relationship manager' convinced him to make an initial deposit of $1,000 (Dh3,673). Over time, he was pressured into adding more funds, lured by the illusion of smooth trading and small early profits. 'I kept adding funds as instructed, believing I could recover my money.' Ayeshan said he borrowed on credit cards, hoping to recover losses. But the losses only deepened. His relationship manager instructed him to reverse trades, which only made things worse. 'Overall, I have lost everything. I am in severe depression, and my health has suffered.' Nalini, 59, another victim, had a similar experience. For years, she had ignored cold calls from forex brokers, but when a man named Abhimanyu persisted, she decided to test it with Dh1,000. He set up an account for her, providing a login and dashboard where she could monitor trades. 'Even when I travelled to India, he kept in touch, guiding me through trades in euros and dollars. Later, he pressured me to invest in gold and silver. I refused at first, but he is very good at convincing,' recalled Nalini. Abhimanyu assured her withdrawals were possible at any time, which gave her confidence to invest in three instruments—wheat and two currencies. But when her margin dropped, he warned that her account would be wiped out unless she deposited more funds. 'My balance was at -$7,000. Panicked, I deposited another $7,000 and took the opposite trade, believing it would help. But my balance plummeted to -$26,000, and my positions were locked. Now they're telling me to invest even more money to save my account,' she said. Familiar playbook The scam follows a familiar pattern. First comes the cold call—friendly, reassuring, and filled with financial jargon. Victims are persuaded to deposit an initial amount, often around $1,000, just to 'test the waters'. To build trust, brokers allow small withdrawals, reinforcing the illusion of easy access to funds. Then, the pressure starts. 'You're doing great—why stop now?' The so-called relationship manager pushes investors to increase their deposits, steering them toward 'golden opportunities' in forex, commodities, and crypto. They emphasise that withdrawals can be made at any time. But that's the lie. As deposits grow, so does the manipulation. Brokers pressure victims into high-risk trades, claiming it's the only way to 'protect profits'. Soon, they find themselves locked out—unable to withdraw funds, execute trades, or even contact their brokers. Their money is gone. Investigations show that these companies exist in the UAE in name only, leaving defrauded investors with no one to hold accountable. When Khaleej Times called the cellphone of Fatima, the purported relationship manager of EVM Prime Support, a woman named Sanjana answered. She confirmed that they operate from Dubai. However, when asked for a physical address and told that a reporter would visit, the call was immediately disconnected, and no further calls were answered. A similar attempt was made with Abhimanyu, the so-called relationship manager of DuttFX. When called, a man answered claiming he was not Abhimanyu. But when a call was placed from a different number the next day, the same voice now claimed to be Abhimanyu. When confronted, he backtracked, saying he was just a namesake and had no connection to DuttFX. After that, no calls were answered again. For investors who have lost their savings, recovering money is nearly impossible. Without a registered entity in the UAE, victims have no legal recourse. Complaints to Dubai Police and other authorities have been filed, but with these firms lacking a physical presence, tracing them remains a challenge. And it's a challenge authorities have faced before. In one of the biggest forex frauds to hit the UAE, Sydney Lemos, the owner of Exential Forex, promised high returns through currency trading, luring thousands of expatriates into what was later exposed as a Dh1 billion Ponzi scheme. By the time the scam unravelled in 2017, families had lost their life savings. Lemos was sentenced to over 500 years in prison in Dubai—yet despite this landmark case, fraudulent forex platforms continue to thrive under different names. MMA Forex, operating from Al Nahda, and UT Markets, which relied on WhatsApp to target investors, followed a similar playbook. Like Exential Forex, they enticed victims with guaranteed returns, only to vanish when withdrawals were requested. It's a long list. Alpha Bull, which operated until a few years ago, vanished without a trace, leaving investors stranded with no way to retrieve their money. Despite repeated scams, new firms keep emerging under different names, running the same deception. More recently, Acme Consultancy and BlueChip, both operating from Al Jawhara Building in Bur Dubai, shut down overnight, taking millions of dirhams with them. There's an arrest warrant out for BlueChip owner Ravindra Nath Soni. Today, the names may change, but the scam remains the same. With no refunds in sight, many victims are now banding together to file collective complaints, hoping for legal intervention. Expert warnings But experts warn that recovery is rare—and prevention is the only safeguard. Nigel Sillitoe, CEO of Insight Discovery, warns investors about the risks of dealing with unregulated trading firms: 'It is deeply concerning that numerous unregulated online trading and forex investment companies continue to operate in the UAE. Investors must exercise extreme caution when approached by such firms, as many rely on cold calls and aggressive marketing tactics to lure individuals into fraudulent schemes.' Sillitoe stresses that UAE has over 40 regulated brokerage firms, and there is no reason to take unnecessary risks with companies operating illegally. Even legitimate financial institutions aren't safe from fraudsters. Last year, scammers impersonated Equiti Group, a well-known global fintech firm, to dupe investors. Among them was Dubai celebrity Lojain Omran, who unknowingly became the face of the scam. The UAE's Securities and Commodities Authority (SCA) eventually issued a public warning, clarifying that MRL Investments, operating under was not licensed and had no affiliation with Equiti Securities Currencies Brokers LLC (ESCB LLC). The real Equiti Group, which even has a Dubai Metro station named after it, was forced to disassociate itself from the fraudulent scheme. 'As financial markets evolve, so do scams,' said Brian Myers, Chief Commercial Officer of Equiti Group. 'Traders should stay vigilant, verify broker legitimacy, and avoid platforms that operate without clear oversight. It always makes sense to undertake some due diligence before investing.' Yet, despite high-profile arrests, public warnings, and repeated scams, the cycle continues. Regulators warn, victims speak out, and yet new firms emerge—offering the same false promises under different names. Until decisive action is taken to shut down these operations before they resurface, investors will continue to fall prey to the same deception—just under different names, say industry experts. For now, vigilance isn't just an option. It's the only defence.
