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UAE Firm Issues Alert on Identity Theft and Credit Card Scams

DALL·E 2024 01 26 15.14.15 A creative and striking digital illustration representing a scammer impersonating a legitimate company employee. The image should show a shadowy figur

UAE Residents Cautioned Against Rising Scams Involving Employee Identity Misuse

In an urgent warning to the public, Abu Dhabi-listed The National Investor (TNI) has alerted UAE residents about a sophisticated scam operation. Scammers have been using the company’s name, logo, and even employee identities to falsely advertise investment opportunities and tenders, aiming to extract personal and banking information from unsuspecting individuals.

The Mechanics of the Scam

The scam, as described by TNI in a statement to the Abu Dhabi Securities Exchange, involves fraudsters reaching out to individuals and entities, requesting sensitive information under the guise of tender fees or investment opportunities. They use a variety of communication methods, including emails that falsely appear to be from TNI or its affiliates.

This alert follows a series of reports by Khaleej Times on increasing cases of fraud in the UAE. Incidents range from travel scams that have cost residents millions of dirhams to individuals losing significant personal savings to phone scammers. In one striking case, a Dubai resident lost Dh14,000 in an online scam while ordering food worth only Dh14.

TNI’s Response and Advice to the Public

TNI emphatically states that it never requests personal or financial information through email or any other non-verified means. The company urges the public to be vigilant, especially when dealing with unsolicited requests for sensitive data.

Their advice aligns with previous warnings from Abu Dhabi’s judicial authority, which cautioned residents about online shopping scams. These scams are increasingly sophisticated, often involving new methods to hack into bank accounts and personal data.

Protecting Yourself from Scams

Most importantly, TNI advises that if you receive any request for personal, business, or financial information appearing to be from them, treat it with suspicion. Do not click on any links in such emails or provide personal information like bank details or identity documents. They emphasize the prevalence of illegal advance fee scams using impersonated identities.

Therefore, vigilance and caution are key in protecting oneself from these fraudulent activities. It’s crucial for residents to stay informed and be skeptical of any suspicious communication requesting personal or financial information.

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